Accounting – 11/04/19

I. Bellwork

• Budget Challenge:  Pay invoices & Adjust spreadsheet

II.  Objectives:

• Analyze and interpret differences in financial information from the bank statement and the check register to complete a bank statement reconciliation.
• Record and journalize a bank service charge.

III.  Discussion/Notebook

• Analyzing a bank statement
• Preparing a Bank Reconciliation
• Steps for recording a service charge on a check stub & the general journal
• 4 Reasons why the depositor’s records and the bank statement may differ
  • Service Charge – not on depositors records
  • Outstanding Checks –  not on the bank statement
  • Outstanding Deposits – not on the bank statement
  • NSF Deposits – not on the depositors books

IV.  Classwork

• Work Together & On Your Own (p. 134). .
• Application Problem 5-2 (p. 149).

V.  Tuesday Homework

• Take Building Credit Quiz on Budget Challenge.

Economics F2019