CHAPTER 7 – ACCT 207 – EXAMPLE BANK RECONCILIATION Bank Reconciliation for Fox Company – September 2007 1. Balance per bank on September 30—$23,570 2. Balance per books on September 30—$20,500 3. Total outstanding checks at September 30—$4,500 4. a. NSF check from Lee Co.—$530 b. Printing company checks—$60 c. Payment to bank of $2,300 note owed bank by Fox plus $300 interest. d. Collection of note receivable for $4,000 plus $600 interest less $100 collection fee. 6. Errors: a. A check written this month to Nance Co. for office supplies cleared the bank at the correct amount of $690, but was recorded by Fox at $960.
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This note was uploaded on 12/12/2010 for the course ACCT ACCT207 taught by Professor Dragone during the Fall '10 term at University of Delaware.