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    Cancelled Check of Nice Corporation Returned With The Sept. Bank Statement of Nile Corporation and Recorded Thereon: Br. 98

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    zemen tadesse
    The bank reconciliation statement is prepared to reconcile the cash balance per the bank statement to the cash balance in the company's general ledger. Key items include deposits in transit of Br. 16,000, outstanding checks of Br. 115, and returned checks and bank charges that need to be recorded in the general ledger. After adjusting for all reconciling items, the adjusted cash balance per the bank is Br. 126,372, which matches the cash balance per the general ledger.

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    Cancelled Check of Nice Corporation Returned With The Sept. Bank Statement of Nile Corporation and Recorded Thereon: Br. 98

    Uploaded by

    zemen tadesse
    327 views2 pages
    The bank reconciliation statement is prepared to reconcile the cash balance per the bank statement to the cash balance in the company's general ledger. Key items include deposits in transit of Br. 16,000, outstanding checks of Br. 115, and returned checks and bank charges that need to be recorded in the general ledger. After adjusting for all reconciling items, the adjusted cash balance per the bank is Br. 126,372, which matches the cash balance per the general ledger.

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    The bank reconciliation statement is prepared to reconcile the cash balance per the bank statement to the cash balance in the company's general ledger. Key items include deposits in transit of Br. 16,000, outstanding checks of Br. 115, and returned checks and bank charges that need to be recorded in the general ledger. After adjusting for all reconciling items, the adjusted cash balance per the bank is Br. 126,372, which matches the cash balance per the general ledger.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    327 views2 pages

    Cancelled Check of Nice Corporation Returned With The Sept. Bank Statement of Nile Corporation and Recorded Thereon: Br. 98

    Uploaded by

    zemen tadesse
    The bank reconciliation statement is prepared to reconcile the cash balance per the bank statement to the cash balance in the company's general ledger. Key items include deposits in transit of Br. 16,000, outstanding checks of Br. 115, and returned checks and bank charges that need to be recorded in the general ledger. After adjusting for all reconciling items, the adjusted cash balance per the bank is Br. 126,372, which matches the cash balance per the general ledger.

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    Assume the following data for September 1996 for Nile Corporation to illustrate the preparation

    of bank reconciliation:
    1. Cash balance in the bank according to September 30 bank statement: Br. 114,621
    2. Cash balance in the bank according to Sept. 30 general ledger account: Br. 126,372.
    3. Deposits made at the bank during Sept. recorded on Nile’s books:
    Sept. 3 -------- Br. 10,000 Sept. 10 -------- Br. 15,000 Sept. 24 ---------Br. 8,000
    Sept. 6 ------------ 12,000 Sept. 18 -------------25,000 Sept. 30 ----------- 12,000
    Total = Br. 82,000
    4. deposits made by Nile Co. on august 31 that had not cleared the bank (deposit in transit)
    by August 31: Br. 16,000
    5. Checks written by Nile Co. prior to Sept. 1 that had not cleared the bank (checks
    outstanding) by August 31
    Check no. 555 ------------ Br. 25
    Check no. 580 ---------------- 90
    6. Checks written during Sept. recorded on Nile’s book
    Check No. 621 ----- Br. 48 check no. 625 ----- Br. 88 check no 629 ----- Br. 62 check no 634 ---- Br. 81
    622 -------- 123 626 -------- 704 630 ---------- 12 635 -------- 95
    623 -------- 308 627 ----------29 632 ---------112 Total = ________
    624 --------- 94 628 ---------66 633 --------- 53
    7. Deposits shown on the Sept. bank statement:
    Sept. 1 ---------- Br. 16,000 Sept. 7 -------- Br. 12,000 Sept 19 ---------- 25,000
    Sept. 4 -------------- 10,000 Sept. 11 ---------- 15,000 Sept. 25. ----------- 8000
    Total = 86,000
    8. Cancelled checks of Nile Corporation returned with the Sept. bank statement and
    recorded there on:
    Check No. 580 ------- Br. 90 check No 624 ------- Br. 94 check no 629 ---- Br. 62 check no. 633 ----- Br. 53
    621 ----------- 48 626 -----------704 630 --------- 12 634 ---------- 81
    622 ----------123 627 ------------ 29 631 --------- 34
    623 --------- 308 628 ------------66 632 -------- 112 Total Br. 1816
    9. Cancelled check of Nice Corporation returned with the Sept. bank statement of Nile
    Corporation and recorded thereon: Br. 98
    10. Bank service charge of Br 7 made against Nile’s account but not recorded by Nile
    Corporation
    11. A customers check for Br. 60 returned with the Sept. bank statement and marked NSF,
    not yet redpostied and not recorded on Nile’s books.
    12. Interest of Br. 125 collected on behalf of Nile, not yet recorded by Nile Corporation.
    13. Cancelled check no. 631 returned by the bank for Br. 34 (correct amount) for office
    supplies recorded as Br. 43 in the accounting records.
    14. Miscellaneous revenue collected by the bank for Nile Corpn. Br. 72 not yet recorded by
    Nile Corpn.
    15. The cash receipt journal indicated that the cash received during Sept. totaled Br. 82,000
    and the cash payment journal showed payments during spet, Br. 1, 918
    16. The bank statement for Sept. total deposits, Br. 86,197, payments Br. 1,981.

    Required: prepare Bank Reconciliation for Nile Corporationn for the month of Sept 1996.

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