Finalize Reconciliation Tables

All we need to do here is ensure the ending balances match for the Bank Balance per Reconciliation and Company Balance per Reconciliation.

Bank's Cash Balance

Per Bank Statement$850
Deposits outstanding$170
Checks outstanding($200)
Bank error$50
Bank Balance per Reconciliation$870

Company's Cash Balance

Per General Ledger$800
Note collected$200
Interest earned$20
Service fees($50)
NSF Checks($100)
Company Balance per Reconciliation$870

Bank Balance per Reconciliation = $850 + $170 - ($200) + $50
Bank Balance per Reconciliation = $870

Company Balance per Reconciliation = $800 + $200 + $20 - ($50) - ($100)
Company Balance per Reconciliation = $870

Bank's Cash Balance

Per Bank Statement$850
Deposits outstanding$170
Checks outstanding($200)
Bank error$50
Bank Balance per Reconciliation$870

Company's Cash Balance

Per General Ledger$800
Note collected$200
Interest earned$20
Service fees($50)
NSF Checks($100)
Company Balance per Reconciliation$870

The bank and company are now on the same page for what the cash balance of the company truly is!

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