Question: Prepare bank reconcilliation statement Markson's & co. has a difference in balance as per cash book and bank statement as on 3lst March 2021. Let's

Prepare bank reconcilliation statement Markson's \& co. has a difference in balance

Prepare bank reconcilliation statement

Markson's \& co. has a difference in balance as per cash book and bank statement as on 3lst March 2021. Let's Understand the Transaction Details 1. Balance as per bank statement as on 31st March 2021 is $5000. Balance as per the cash book is $1,650. 2. Checks of $2000 and $1000 issued as on 30th March 2021 , but not yet cleared. 3. Insurance paid by the bank is $200. It is not yet recorded in the cash book. 4. An outgoing check of $1000 was recorded twice in the cash book. It is accurately recorded in the bank passbook. 5. Payment of a $500 check is recorded twice in the passbook. 6. Dividends received $600 recorded only in the bank statement and not in the cash book. 7. A check of $500 was deposited on 29 th March 2021 , but it is not collected. 8. Bank charges of $50 were debited, it is only recorded in the bank passbook

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