Bank Reconciliation CPA Exam Simulation Intermediate Accounting

[@saumyaagarwal7638]

I did jt ysing the opening and closing approach of ourstanding checks and deposits in gransit and later adjusted the errors to the closing balance of books and viola!!

[@sushil1111]

why do we minus 1600 2 times, first we considered it as minus from DIT and then again minus as error

[@Lee-qu4ce]

Thanks for the SIM. This is actually very comparable to what I had on my exam.

[@AccountingLectures]

Glad I could help! Please take a look at my FAR resources: farhatlectures.pathwright.com/library/?category=CPA+Exam+FAR

[@adamuwelde6536]

Bold your writing

[@jamesdigiacomo1616]

Why do we deduct the 1600 bank error twice? Thanks!

[@nivetharamesh535]

Hello sir, PLEASE ANSWER THIS. I see you deducted $1600 from deposits which is $43,400 initially(from bank statement) because it was incorrectly recoded, so again why do we have to deduct it under bank error? is it just the format? Would be so glad if you could answer these questions. THANK YOU SO MUCH in advance.

[@יעקבביבינגרד]

When you calculate the DIT of december , why didnt you diduct the NSF from the deposits in the books ?

[@AccountingLectures]

You account for the DIT and NSF separately. How do you know that the NSF was part of the DIT?

[@יעקבביבינגרד]

@@AccountingLectures Becase the NSF was check that I received in december. so if I want to calculate the DIT for december I need to diduct for the same reason I add the 90 to the disbursement when I calculate the check outstanding for december

[@pavelramirez141]

Where can I find this sim so I can practice on my own?

[@danielfcb2377]

So... we have cleared the checks except one , i know that cleared checks from previous months are deducted, but... why the #365 check is deducted without being cleared?

[@ahmedmohsen7522]

Why nfs deducted in the bank account while the bank didn’t accept the checks

[@AccountingLectures]

Furst, the bank deposit the money as if it is a good check then deduct when they find out otherwise. www.farhatlectures.com

[@sowmyasriram9947]

Also, how did 204 come?

[@sowmyasriram9947]

Can you please tell how 41574 came?

[@sowmyasriram9947]

How did 41574 come?