Accounting/ Math

Question

On December 31, the checkbook balance of Asteroid and co. was $ 1,241.05. The bank statement balance was $ 1,510.00. Checks outstanding were $ 3,052.03. The statement revealed a deposit in transit of $ 2,800.00 as well as a bank service charge of $ 12.03. The company earned interest income of $ 29.05.Complete a bank reconciliation for Asteroid and Co.

Answer 1

Asteroid and Co.

Bank Bank Reconciliation Statement

Month Ended December 31

Cash balance as per bank statement November 30 $1776.03

Add: Deposit in transit $2800.00

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$1762.03

Deduct Outstanding checks $3052.03

Adjusted cash balance $1510,00

Balance as per depositor's record November 30 $1492.98

ADD: Receivable collected by bank $0

I Interest earned $29.05

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$1522.03

Deductions

Bank service charge $12.03

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Adjusted cash balance $1510.00