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    Bank Reconciliation

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    Prepare a bank reconciliation based upon the following information.

    1. Balance per bank statement on November 30 $20,400
    2. Balance per books on November 30 $12,138
    3. NSF Check from J. Smith in payment of account $190
    4. Collection of $2,500, 4-month, 12% note with a $25 collection fee.
    No interest had been accrued $2,575
    5. Deposits in transit at November 30 $1,800
    6. November checks written $25,000
    7. Outstanding November checks at $5,500
    8. October Checks still outstanding in November $2,350
    9. A check written by Conan to Green for equipment on November 10 was
    recorded at $463 but correctly cleared the bank at $436.
    10. A check drawn on the account of Conehead Company for $200 was mistakenly
    charged against Conan's account by the bank.

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    Solution Summary

    The solution explains how to prepare a bank reconciliation.