Bank Reconciliations Flashcards
1
Q
Bank reconciliation per bank balance:
A
Balance per bank statement \+ Deposits in transit \+ Cash on hand - Outstanding checks \+/- Errors made by the bank True Cash Balance
2
Q
Book Reconciliation
A
Balance Per Books \+ Interest Earned \+ Notes Collected - Service Charged - NSF Checks \+/- Errors made on the books True Cash Balance
