Question

John’s bank statement shows a closing balance for a given month as $2,200 and his personal account register shows a closing balance for the same month as $2,050. John investigated his accounts to identify the following discrepancies: Bank charges of $200 were charged. There were checks of $200 that were not yet presented for payment. Deposits not yet credited totaled $300. $450 interest was credit to John’s account. By how much is John’s bank reconciled?

Answer 1

Bank reconciliation refers to looking at your bank statement and your personal register and making sure they match up with no discrepancies. In this case, there were discrepancies, $150 worth so John had to look and see what was missing and making sure they both equaled the same amount. From the numbers given, John's bank account was reconciled $150. 

Answer 2

2050+200=2250

2250+200=2450

2450+300=2750

2750-450=2,300

John's Bank is reconciled at $2,300