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Accounting,
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Chapter 7 Notes

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.uob Bank Reconciliation:
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Step 1: Identify outstanding deposits and bank errors that need to be added to the current bank
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m
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Step
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h
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bank statement
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Step 3: Identify
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ww
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wwbank (notes), amounts w
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Step
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NSF
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and
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Bank
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Bank
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Balance
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Bank Errors ob-bh
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Subtotal
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Outstanding Checks
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Balance w
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Amounts must balance

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Journal entries must
adjustments
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all of the adjustments made to decrease the book balance cash will be shown as a credit in the
entries.
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Page 1

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h.c
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Accounting,
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Chapter 7 Notes

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Any differences between the cash register tape totals and the actual cash receipts is charged
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Petty Cash:

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Petty cash is a fund
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The amountwofwthe petty cash fund is dependent
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Journal
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For the setup of Petty Cash:

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Page 2

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Amountwo.fufund

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Petty
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Chapter 7 Notes

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Journal
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For replenishment of petty cash:

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Page 3

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