Kingbird, Inc. assembled the following information in completing its March bank reconciliation: Balance per bank $21800 Outstanding checks $4425 Deposits in transit $7150 NSF check $460 Bank service charge $145 Cash balance per books $25080 As a result of this reconciliation, Kingbird will

Kingbird will have an Updated Cash Balance of $21,800

Explanation:

First Step is to Update the Bank Balance in the Cash Book

Debit :

Cash Balance before adjustment     $25,080

Dishonored Cheques                            $460

Totals                                                  $25,540

Credit:

Bank service charge                               $145

Balance as per updated Cash Book $25,395

Totals                                                  $25,540

Then Prepare a Bank Reconciliation Statement

Bank Reconciliation Statement

Balance at Bank as per Cash Book $25,395

Add Unpresented Cheques                $7,150

Less Lodgements not yet credit        ($4,425)

Balance as per Bank Statement       $21,800

Conclusion.

Kingbird will have an Updated Cash Balance of $21,800

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