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Equivalents > Bank Reconciliation
Adjusted Balance Method
Book balance
Add: Credit memos
———————
Total
Less: debit memos
———————
Adjusted book balance
Bank balance
Add: Deposit in transit
———————
Total
Less: Oustanding checks
———————
Adjusted bank balance
Book to Bank Method
Book balance
Add: Credit memos
Outsatanding checks
———————-
Total
Less: Debit memos
Deposit in transit
———————-
Bank balance
Bank to Book Method
Bank balance
Add: Deposit in transit
Debit memos
———————–
Total
Less: Credit memos
Outstanding checks
———————–
Book balance
Two-date Bank Reconciliation
As it is so called, two-date bank reconciliation involves two dates and the procedures followed in solving for the adjusted cash balance is just the same with one-date bank reconciliation.
Computation of Book balance
Balance per book beginning of the month
Add: book debits during the month
——————————————
Total
Less: Book credits during the month
——————————————
Balance per Book end of the month
Computation of Bank balance
Balance per book beginning of the month
Add: bank credits during the month
——————————————-
Total
Less: bank debits during the month
——————————————–
Balance per Bank end of the month
Other computations involved in bank reconciliation:
Computation of deposit in transit
