# Accounting internships: audit, tax and corporate

## Has the bank fee already been recorded?

A different fictional reconciliation: the ledger now includes the bank fee. Check what each balance already contains before making an adjustment.

### Records supplied for this case

| Item | Amount | Already recorded where? |
| --- | --- | --- |
| Bank statement balance | $12,400 | Includes the bank fee |
| Cash ledger balance | $12,600 | Includes the bank fee, deposit and checks |
| Deposit in transit | $900 | Ledger only |
| Outstanding checks | $700 | Ledger only |
| Bank fee | $50 | Both records |

## Your turn

Calculate the adjusted balances. Should you subtract the $50 fee from the ledger again?

## Your answer

[Write your approach here.]

## For your own application

Mark each proposed adjustment as already recorded or missing before applying it.

Return to the guide for the worked answer and source notes:
https://internshipdeadlines.com/guides/accounting-internships-audit-tax-and-corporate