Bank Statement Reconciliation Worksheet
A Grade 9 math worksheet on reconciling bank statements, covering definitions, identifying discrepancies, and calculation of adjusted balances.
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Bank Statement Reconciliation Worksheet
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Date:
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Read each question carefully and provide your answers in the space provided. Show all your work for calculation questions.
1. What is the primary purpose of reconciling a bank statement?
2. List two common reasons why a bank's balance and your checkbook balance might differ.
3. Which of the following would require an adjustment to the BANK'S balance during reconciliation?
Outstanding checks
Bank service charges
Deposits in transit
Errors made by the account holder
4. An NSF (Non-Sufficient Funds) check received from a customer would require an adjustment to the:
Bank's balance
Account holder's balance
Both balances
Neither balance
5. A deposit that has been made by the account holder but has not yet appeared on the bank statement is called a(n) .
6. Checks that have been written by the account holder but have not yet been cashed or cleared by the bank are known as .
7. Your checkbook shows a balance of $850. The bank statement shows a balance of $890. You discover an outstanding check for $75 and a deposit in transit of $35. There is also a bank service charge of $10 that you have not recorded. Calculate the adjusted bank balance and the adjusted checkbook balance.
Adjusted Bank Balance Calculation:
Adjusted Checkbook Balance Calculation:
8. After reconciliation, what should be true about the adjusted bank balance and the adjusted checkbook balance?