In class students reconciled the bank statement. Remember, reconciling the bank statement is getting the ending balance on the statement to agree with the account balance for Cash in Bank in the General Ledger and amount carried forward on the check stub. There are 3 things we need to do to reconcile the bank statement and are as follows:
1) Record any fees (service charge, NSF fee) in General Journal, General Ledger, Check Stub.
2) Record any outstanding deposits on the Bank Reconciliation Form (add).
3) Record any outstanding check on the Bank Reconciliation Form (subtract).
The homework is listed below and the notes are attached.
Notes - Reconciling the Bank Statement
HW - Complete 11-4/11-7
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