Nicole has asked you to prepare a bark reconciliation tor NGS According to her r

Question

Nicole has asked you to prepare a bark reconciliation tor NGS According to her record NGS' cash balance $6, 700 at December 31. but the bank reports a balance or $6200 The bank deducted $340 for an NSF check from a customer deposited on December 22. NOS hat item checks total g $4,200 that have not yet cleared the bank The bank eddo $45 cash to the account for interest earned December NGS made a $4, 000 dap oat on Dao amber 31. rich 11 be recorded by the bank m January The bank-deducted $45 tor service chirps. NGS wrote a check to a chapter on account tor $400 but mistakenly worded it at $40.

Explanation / Answer

Bank Statement Ending Balance In Bank 6200 Additions deduction on NSF Check 340 Deposit 4000 Service Charge 45 Check to supplier 360 Total 4745 Deductions Checks not cleared -4200 Interest earned -45 Total -4245 Up to date Cash Balance 6700 Company Books Ending Balance In Bank 6700 Additions Checks not cleared 4200 Interest earned 45 Total 4245 Deductions deduction on NSF Check -340 Deposit -4000 Service Charge -45 Check to supplier -360 Total -4745 Up to date Cash Balance 6200

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