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.

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