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Accounting- Bank Reconciliation

  1. Balance per Bank
    • Start $
    • Outstanding Checks (-)
    • Deposit in Transit (+)
  2. Balance Per Books
    • Start $
    • NSF Check from cust. (-)
    • Service Charge (-)
    • Interest Earned (+)
  3. Owners Equity equation
    Common stock + retained earnings = OE
  4. Deposit in transit
    Bank (+)

    Vakues in Cash Receipts (books) that don't appear in deposits (banks)
  5. Outstanding Checks
    Banks (-)

    Values in Cash Payments (books) that do not appear in deductions (banks)
  6. NSF Check
    Book (-)

    Deduct from Books value
  7. Service Charge
    Book (-)

    Deduct from Books value
  8. Interest Earned
    Books (+)

    Add to Books value
Author
GoBroncos
ID
356250
Card Set
Accounting- Bank Reconciliation
Description
Updated

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