Prepare the June bank reconciliation for Low Company using the reconciling items below. The cash balance for Low Company was 8,110. The balance on the bank statement was 12,505.
a. 50 bank service charge
b. 4,889 worth of outstanding checks
c. 118 check for insufficient funds returned by the bank
d. Low Company deposited 576 worth of checks that are not on the bank statement.
e. The bank collected a note receivable for Low Company worth 275.
f. The bank charged Low Company 25 to collect the note receivable.
Low Company
Bank Reconciliation
June 30, 2012
Bank Balance 12,505 Book Balance 8,110
Add: Add:
Deduct: Deduct:
Question 2
Bringing the book and bank balances into agreement is called ___________________ _.
Fill in the blank(s) with correct word
Pacific hagfish at 150 meters depth, California, Cordell Bank National Marine Sanctuary.
Bank reconciliation form.
Example of Reconciling a Bank Statement
Example of Reconciling a Bank Statement Cont.
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