Bank Reconciliation Statement

Bank Reconciliation Statement

Bank Reconciliation Statement,Financial Accounting I

Bank reconciliation statement:


1) The balance on the May 31,2010 ,bank statement is Rs. 8432.11.

2)Not included on the bank statement is Rs. 1250 deposit made by Calico Corners late on May 31.

3)A comparison between the canceled checks returned with bank statement and the company records indicated that the following checks are outstanding at May 31. No. 123             Rs. 23.40 No. 127             Rs. 145.00 No. 128              Rs. 210.80 No. 130              Rs. 67.32

4)The cash account on company’s book shows a balance of rs. 9965.34.

5)The bank acts as a collection agency for the interest earned on some municipal books held by Calico Corners. The May bank statement indicates interest of rs.465.00 earned during the month.

6)Interest earned on the checking account and added to Calico Corners account during May was rs.54.60 .Miscellaneous bank service charges amounted to rs. 50.

7)A customer’s NSF check in the amount to rs. 166 was returned with the May bank statement.

8)A comparison between the deposits listed on the bank statement and the company’s books revealed that a customer’s checks in amount of rs. 123.45 was recorded on the books during May but was never added to the company’s account .The bank erroneously added the checks to the account of Calico Closet ,which has an account at the same bank.

9)The comparison of deposits per bank statement with those per books revealed that another customer’s check in the amount of rs. 101.10 was correctly added to the company’s account .In recording the check on the company’s books however ,the accountant erroneously increased the cash account by rs.1011.00.


Balance as per Bank Statement                                                                                                       8432.11 Balance as per Cash book                                                                                                          9965.34
Add: Deposit in transit      1250 Add:Interest Credited   465
          Correction of error   123.45           Interest credited  54.60
1373.45 519.60
Less: Outstanding Cheque  23.40+145.00+210.80+67.32 Less:Miscellaneous bank service charge         50
                                                                                                                         446.52            NSF cheque returned                                  166
              Correction of error                                     909.9
Adjusted Balance,May 31,2012                                                                                                 9359.04 Adjusted Balance,May 31,2012                                                                                                 9359.04
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