Accounting: What the Numbers Mean 9th Edition by Wayne W McManus, Daniel F Viele, David H Marshall

Exercise 35

Bank reconciliation adjustment

a. Show the reconciling items in a horizontal model or write the adjusting jour­nal entry (or entries) that should be prepared to reflect the reconciling items of Exercise 5.2.

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b. What is the amount of cash to be included in the August 31 balance sheet for the bank account reconciled in Exercise 5.2?

Step 1 of 4

Bank reconciliation adjustment

Bank reconciliation : It is a technique to identify each disparity between the company’s book records and the bank’s statement records.