Question

Kameron Gibson’s bank statement showed a balance of $954.35. Kameron’s checkbook had a balance of $259.60. Check No. 104 for $116.90 and check No. 105 for $19.15 were outstanding. A $721.40 deposit was not on the statement. He has his payroll check electronically deposited to his checking account—the payroll check was for $1,320.30. There was also a $17.50 teller fee and an $22.70 service charge.
Required:
1. Prepare Kameron Gibson’s bank reconciliation. (Input all amounts as positive values. Round your answers to 2 decimal places.)

Answer 1

Answer:

Cash book Reconciled balance: $1,539.7

Kameron's bank balance Reconciled balance: $1,539.7

Explanation:

Kameron Gibson’s bank reconciliation

Kameron's checkbook balance: $259.60

Add Direct deposit: $1,320.30

Balance $1,579.9

Less: Teller fee: $17.50

Service charges: $22.70

Total deduct: $40.2

Reconciled balance: $1,539.7

Kameron's bank balance: $954.35

Add Deposit in transit: $721.40

Balance $1,675.75

Less :Outstanding checks (total)

($116.90+$19.15) $136.05

Reconciled balance: $1,539.7