Share
Explore BrainMass

Preparing Bank Reconciliation Statements

Please help in preparing a bank reconciliation statement for the month.

On Aug 14th, Compuville's cash book showed a debit balance of $4,000.00. The bank statement showed a balance of $4,270.00.

In the comparison, the following was found:
* check issued amounting to $2,500.00 has not been cashed
* The bank rejected checks amounting to $140
* Standing order for a staples order of $700 was note noted.
* A customer paid $170 directly into the bank without any notice to Us
* Bank charges of $160 were entered in the bank statements only.
* A dividend of $250 was paid directly into the bank and not recorded in the cash
book
* Checks for $1,650.00 were entered into the cash book and deposited in the bank
but had not been cleared (deposited).

Prepare a bank reconciliation statement for the month .

Compuville Bank Reconcilation

Balance per bank

Uncleared check
Staples standing order
Rejected checks
Outstanding deposit

Balance per book

Compuville Bank Reconcilation

Balance per book

Unrecorded deposit
Unrecorded bank charges
Unrecorded dividend paid

Balance per bank

Solution Preview

For better understanding, the second reconciliation shows the entries that will have to be made on the books for items that have cleared the bank, but have not been recorded on the books. See the attached excel file.

Compuville Bank Reconcilation

Balance per bank ...

Solution Summary

The solution presents a bank reconciliation in Excel format including notes and explanations for easier understanding.

$2.19