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3 July, 11:00

Kingbird, Inc. assembled the following information in completing its March bank reconciliation: Balance per bank $21800 Outstanding checks $4425 Deposits in transit $7150 NSF check $460 Bank service charge $145 Cash balance per books $25080 As a result of this reconciliation, Kingbird will

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  1. 3 July, 12:34
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    Kingbird will have an Updated Cash Balance of $21,800

    Explanation:

    First Step is to Update the Bank Balance in the Cash Book

    Debit:

    Cash Balance before adjustment $25,080

    Dishonored Cheques $460

    Totals $25,540

    Credit:

    Bank service charge $145

    Balance as per updated Cash Book $25,395

    Totals $25,540

    Then Prepare a Bank Reconciliation Statement

    Bank Reconciliation Statement

    Balance at Bank as per Cash Book $25,395

    Add Unpresented Cheques $7,150

    Less Lodgements not yet credit ($4,425)

    Balance as per Bank Statement $21,800

    Conclusion.

    Kingbird will have an Updated Cash Balance of $21,800
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