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?

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Business

Franco Guerrero

6 April, 22:26

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?

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David · 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.