Tom just received his bank statement and wanted to make sure that the balance

Bank Reconciliation

Tom just received his bank statement and wanted to make sure that the balance in his check book was correct. Tom determined the following information:

  1. At the end of the month Tom’s check book showed a balance of $183
  2. The bank indicated that the balance in Tom’s account was $475
  3. Check number 104 for $60, check number 107 for $205 and check number 108 for $100 had not cleared the bank.
  4. A deposit of $140 did not show up in the bank statement.
  5. Since Tom wanted a paper statement the bank charged him $5
  6. A check of $70 which was previously deposited was returned by the bank plus a $10 service charge.
  7. Tom discovered that a check she had written for $236 had been incorrectly recorded in his check ledger at $263.
  8. A friend had wired directly to Tom’s account $125.

A.Determine the true cash balance for Tom’s checking account.

B.Determine the amount of change in cash as a result of this statement.

C.Determine the amount of change in expense as a result of this statement.

Here’s the SOLUTION

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