Prepare a bank reconciliation for the Lee Company for April

Prepare a bank reconciliation for the Lee Company for April 30, 2018 Bank Statement Balance was $15,000 (balance per bank) 1. Accounting Record Balance (Balance per books, checkbook) was $18,000 2. DIT’s are $5000 3. Service charges are $50 4. NSF check found on the bank statement was $ 1,300 5. In looking at the bank statement you see that you made an error in your bookkeeping. A deposit was recording on the accounting records for $ 1000 but the actual deposit recorded by the bank was $3,250. 6. Two checks are outstanding. One is for $2,500, and the other is for $500.

Solution

Lee Company Bank Reconciliation April 30, 2018 Bank\'s Cash Balance Per bank statement 15000 Company\'s Cash Balance Per general ledger 18000 DIT 5000 Service fees -50 Checks outstanding -3000 Wrongly entered deposit -2250 NSF check -1300 Bank balance per reconciliation 15700 Company balance per reconciliation 15700