CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 5-2 Bank Reconciliation.

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CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 5-2 Bank Reconciliation

CENTURY 21 ACCOUNTING © Thomson/South-Western 2 LESSON 5-2 TERM REVIEW bank statement – a report of deposits, withdrawals, and bank balances sent to a depositer by a bank. bank reconciliation – the process of balancing bank statement and checkbook page 128

CENTURY 21 ACCOUNTING © Thomson/South-Western 3 LESSON 5-2 BANK STATEMENT page 124

CENTURY 21 ACCOUNTING © Thomson/South-Western 4 LESSON Bank Statement Balance BANK STATEMENT RECONCILIATION Adjusted Bank Balance page Check Stub Balance 10.Compare Adjusted Balances 1.Date 3.Service Charge 4.Adjusted Check Stub Balance 6.Outstanding Deposits 7.Subtotal 8.Outstanding Checks 10

CENTURY 21 ACCOUNTING © Thomson/South-Western 5 LESSON Write Service Charge $8.00 on the check stub under the heading “Other.” RECORDING A BANK SERVICE CHARGE ON A CHECK STUB page Write the amount of the service charge in the amount column. 3.Calculate and record the new subtotal on the Subtotal line. Def. – a fee a bank charges for maintaining a checking account.

CENTURY 21 ACCOUNTING © Thomson/South-Western 6 LESSON 5-2 JOURNALIZING A BANK SERVICE CHARGE 1.Write the date. page August 31. Received bank statement showing August bank service charge, $8.00. Memorandum No Write the title of the account to be debited. Record the amount debited. 3.Record the amount credited. 4.Write the source document number.