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The Bank Portion of The Bank Reconciliation For Christiansen Com
The Bank Portion of The Bank Reconciliation For Christiansen Com
Christiansen Com
The bank portion of the bank reconciliation for Christiansen Com
The bank portion of the bank reconciliation for Christiansen Company at November 30, 2010, is
shown here and on the next page.
CHRISTIANSEN COMPANY
Bank Reconciliation
November 30, 2010
Cash balance per bank ..... $ 14,367.90
Add: Deposits in transit ..... 2,530.20
16,898.10
The adjusted cash balance per bank agreed with the cash balance per books at November 30.
The December bank statement showed the following checks and deposits.
The cash records per books for December showed the following.
At December 31 the cash balance per books was $12,722.30, and the cash balance per bank
statement was $19,028.40. The bank did not make any errors, but Christiansen Company made
two errors.
Instructions
(a) Using the four steps in the reconciliation procedure described, prepare a bank reconciliation
at December 31, 2010.
Step 1. Deposits in transit. Compare the individual deposits on the bank statement with the
deposits in transit from the preceding bank reconciliation and with the deposits per company
records or copies of duplicate deposit slips. Deposits recorded by the depositor that have not
been recorded by the bank represent deposits in transit. Add these deposits to the balance per
bank.
Step 2. Outstanding checks. Compare the paid checks shown on the bank statement or the paid
checks returned with the bank statement with (a) checks outstanding from the preceding bank
reconciliation, and (b) checks issued by the company as recorded in the cash payments journal.
ANSWER
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