For each error, describe to a recently hired bookkeeper how it would be shown on a cash reconciliation.
Bank Company
Recorded Actual Recorded Actual
deposit 2000 200
200 200
deposit 530 350
530 530
payment 250 25
250 250
check 225 255
255 255
check 369 396
369 369
1. The bank recorded a deposit of 200 as 2000. This is an error on behalf of the bank. The bank will credit the correct amount. (A deduction to the balance per bank)
2. The company recorded a deposit as 350 that was actually 530. This error is on behalf of the company. The company will debit the correct amount. (An addition to the balance pe ...