Accounting – 3.3 Bank reconciliation | e-Consult
3.3 Bank reconciliation (1 questions)
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Answer 1
ABC Company
Bank Reconciliation Statement
As at 31 December 2023
| Balance per Bank Statement: £2,000 |
| Add: Deposit received but not yet recorded in the cash book: £1,000 |
| Less: Bank charges: £20 |
| Less: Unpresented cheque: £500 |
| Adjusted Bank Balance: £2,520 |
Explanation of Items:
- Deposit received but not yet recorded in the cash book: This is a credit item that increases the bank balance.
- Bank charges: This is a debit item that decreases the bank balance.
- Unpresented cheque: This is a debit item that decreases the bank balance. It represents a cheque that has been issued but not yet cleared by the bank.