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Bank Reconciliation Statement for a Restaurant Supply Company

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The bank account as a control device helps to protect cash. One of the requirements is to conduct periodic bank statement reconciliations. Using the following data, complete the bank statement reconciliation.

Prepare a bank reconciliation using B & B's Restaurant Supply Inc.'s information for August 31.

- A NSF check from Johnny Jones for $3,164.
- Two deposits made on August 31 were not on the bank statement, totaling $2,897.
- The bank collected an EFT payment for Rent for $2,600.
- August 31 balance in Cash was $2,005.
- The owner had written check #1598 for $500 and recorded this check as $5,000.
- The balance on the bank statement as of August 31 was $5,316.
- Bank service charge of $28 was shown on the bank statement.
- Checks #1572, 1606, 1116, and 1242 for $419, $126, $650, and $1,105, respectively, were not shown on the bank statement, even though the company had sent the checks.

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Solution Summary

A bank reconciliation using B & B's Restaurant Supply Inc.'s information for August 31 is prepared in Excel.

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Radhika Lakshmi, MPhil
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  • MPhil, Madurai Kamaraj University
  • MCom, Annamalai University
  • IATA, International Air Transport Association
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