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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?

Respuesta :

The purpose of this reconciled bank balance is to ensure the difference between the cash book and passbook are adjusted, and to book changes in accounting records accordingly.

What is a reconciled bank balance?

Bank reconciliation is the process of comparing balances of cash account records of a business account with passbook account and the corresponding information of a bank statement.

As per given information:

                                                   $

Balance as per passbook: (Cr)     2,200

Add: Bank charges not

recorded in cash book                       200

Cheques not yet presented               300

less: Cheques issued not yet

paid                                                     (200)

Interest not recorded in cash

book                                                    (450)

Balance as per cashbook(Dr.)           2,050

Hence, John’s bank is reconciled.

To learn more about Bank reconciliation refer:

https://brainly.com/question/15525383

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