Explore BrainMass

Explore BrainMass

    Cash Reconciliation for Bookkeeping Errors

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Given the following errors:

    The bank recorded a deposit of $200 as $2,000.
    The company's bookkeeper mistakenly recorded a deposit of $530 as $350.
    The company's bookkeeper mistakenly recorded a payment of $250 received from a customer as $25 on the bank deposit slip. The bank caught the error and made the deposit for the correct amount.
    The bank statement shows a check written by the company for $255 was erroneously paid (cleared the account) as $225.
    The bookkeeper wrote a check for $369 but erroneously wrote down $396 as the cash disbursement on the company's records.
    You are to complete the following task:

    For each error, describe to a recently hired bookkeeper how it would be shown on a cash reconciliation.

    © BrainMass Inc. brainmass.com March 4, 2021, 7:27 pm ad1c9bdddf
    https://brainmass.com/business/financial-accounting-bookkeeping/cash-reconciliation-for-bookkeeping-errors-102087

    Solution Summary

    The solution explains how to resolve various bookkeeping errors for cash reconciliation.

    $2.49

    ADVERTISEMENT