Jansen Companys general ledger showed a checking account bal

Jansen Company\'s general ledger showed a checking account balance of $25,820 at the end of May 2018. The May 31 cash receipts of $2,540, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2018, showed bank service charges of $58. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $2,090. Required: Prepare a bank reconciliation as of May 31, 2018. [Hint: You will need to compute the balance that would appear on the bank statement. to Add: Deposits outstanding Checks outstanding balance S 25,820 58 Service charges

Solution

Bank Balance Bank balance to Corrected balance 25,312 Balance per bank statement Add:Deposits outstanding 2,540 less:checks outstanding -2,090 Corrected cash balance 25,762 Book Balance to Corrected Balance Balance per books 25,820 less:Service charges -58 Corrected cash balance 25,762 ( I have used negative signs , if it is required to be filled like you have filled , kindly just change it to positive sign, numbers remaining same