BANK

RECONCILIATION
 Forms of Bank Reconciliation:

a. Adjusted Method wherein the balances per bank and

per book are separately determined.

b. Book to Bank Method wherein the book balance is

adjusted to agree with the bank balance.

c. Bank to Book Method wherein the bank balance is

adjusted to agree with book balance.
Adjusted Balance Method

Book Balance P xx Bank Balance P xx

Add: Credit Memos xx Add: Deposits in Transit xx
Total Pxx Total Pxx
Deduct: Debit Memos xx Less: Outstanding Checks xx
Add/Deduct: Book Errors xx Add/Deduct: Bank Errors xx
Adjusted Book Balance Pxx Adjusted Bank Balance Pxx
Book to Bank Method
Book Balance P xx
Add: Credit Memos xx
Outstanding Checks Pxx
Total P xx
Deduct: Debit Memos xx
Deposits in Transit
Adjusted Bank Balance Pxx
Bank to Book Method
Bank Balance P xx
Add: Deposits in Transit xx
Debit Memos Pxx
Total xx
Deduct : Outstanding Check xx
Credit Memo
Adjusted Book Balance Pxx
Note:
a. CM of P15,000 on Oct. 26
represents proceeds of
note collected by the bank
in favor of G—Man
Company
b. RT of P5,000 represents
check deposited by the
customer but returned due
to NSF
Adjusted Balance Method
Gi-Man Company
Bank Reconciliation
October 31, 2021
 Anne Company
Bank Reconciliation
December 20xx

Balance per bank statement 3,800,000.00 Balance per book 3,660,000.00

Add: Deposit in Transit 520,000.00 Deduct: Debit Memos
Deduct :Amount erroneously credited by the bank to Anne Company (40,000.00) Bank Service Charge (5,000.00)
Deduct: Outstanding Check (675,000.00) NSF Check (50,000.00)
Adjusted Bank Balance 3,605,000.00 Adjusted Book Balance 3,605,000.00
 Anne Company
Bank Reconciliation
December 20xx

Balance per bank statement 3,800,000.00

Add: Deposit in Transit 520,000.00
Debit Memos ( Bank Service Charge + NSF Check) 55,000.00
Deduct :Amount erroneously credited by the bank to Anne Company (40,000.00)
Deduct: Outstanding Check (675,000.00)
Book Balance 3,660,000.00
Matt Company provided the following data for the month of December

What is the adjusted cash in bank?

What is the unadjusted Cash in Bank balance per bank statement?
 Matt Company
Bank Reconciliation
December 20xx

Balance per Book 1,000,000.00 Balance per bank 1,010,000

Add: Credit Memos Add: Deposit in Transit 300,000
Customer note collected by the bank 375,000.00 Deduct: Outstanding Checks -235000
Interest on customer note 15,000.00 Adjusted Bank Balance 1,075,000.00
1,390,000.00
Deduct: Debit Memo
Bank Service Charge (3,000.00)
Customer check returned NSF (62,000.00)
Depositor's payment of note payable charged to account (250,000.00)
Adjusted Book Balance 1,075,000.00
 Matt Company
Bank Reconciliation
December 20xx
Balance per Book 1,000,000.00
Add: Credit Memos
Customer note collected by the bank 375,000.00
Interest on customer note 15,000.00
Outstanding Checks 235,000.00
Deduct: Debit Memo
Bank Service Charge (3,000.00)
Customer check returned NSF (62,000.00)
Depositor's payment of note payable charged to account (250,000.00)
Deposits in Transit (300,000.00)
Bank Balance 1,010,000.00
 THANK You!
email : jman7382@gmail.com
CP No. 09152928136
Meta name : Jeorgette Nieva Maninang