Name:____________________________ Date:______________ Bank Reconciliation Do Now Questions 1. What does reconciliation or reconcile mean?

2. What does outstanding mean?

3. What does transit mean?

4. Why could the bank statement and your checkbook balance not agree?

5. What could be missing from your checkbook that is listed on your bank statement?

6. What could be missing from your bank statement that is recorded in your check register?

7. What types of mistakes could the bank make when preparing your bank statement?

8. What types of mistakes could you make in your checkbook register?

9. Why is important to check your bank statement and your checkbook register?