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The Bank Statement

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The Bank Statement A Bank Statement is an itemized record of all the transactions in a depositor s account over a given period of time, usually one month. – PowerPoint PPT presentation

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Title: The Bank Statement


1
The Bank Statement
A Bank Statement is an itemized record of all the
transactions in a depositors account over a
given period of time, usually one month.
  1. Beginning Balance

2) All Deposits Made
3) All Checks Paid
1
5
4) Other Deductions
5) Ending Balance
2
3
4
2
Bank Statement Balancevs Checkbook Balance
The balance on the bank statement usually does
not match the balance that is in the checkbook.
Since the checkbook has a perpetual balance,
there are three reasons why the statement balance
would not match the checkbook balance.
Outstanding Checks
Checks written by the company, but not yet
received by the bank.
Outstanding Deposits
Deposits made by the company, but not yet
received by the bank.
Bank Charges
Fees charged by the bank for maintaining the
account.
3
Recording Bank Service Charges
Less service charges ( 8 )
21,117
510 101
NOV 1
G3 8 21,117
NOV 1
G3 8 8
4
Reconciling the Bank Statement
5
Problem 11-5Recording Service Charges
Less service charges ( 10 )
950
512 101
31
G4 10 950
1
G3 10
615
6
Prob 11-5 Reconciling the Bank Statement
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