On November 1, 2009, Broom Company received a bank statement that showed a $2950 balance. Broom showed a $4010 checking account balance. The bank didn't return check No. 124 for $1080 and check No.138 for $720. A $3200 deposit made on October 30 was in transit. The bank charged Broom $12 for check printing and $18 for a NSF check. Broom forgot to record a $30 withdrawal at the ATM. Th bank also collected a $400 note for Broom. Prepare a bank reconciliation.

I came up with $2210 but I don't think that's right.

To prepare a bank reconciliation, let's break down the given information:

1. Bank's statement balance: $2950
2. Broom's checking account balance: $4010

Now, let's go through each item step by step:

1. Outstanding checks: Start with the checks that the bank did not return. In this case, check No. 124 for $1080 and check No. 138 for $720 were not returned. Deduct their total amount from Broom's checking account balance.

4010 - (1080 + 720) = $2210

2. Deposit in transit: A deposit made on October 30 for $3200 has not been added to the bank statement yet. Add this amount to the bank's statement balance.

2950 + 3200 = $6150

3. Bank charges: The bank charged Broom $12 for check printing and $18 for a NSF (insufficient funds) check. Deduct these charges from the bank's statement balance.

6150 - (12 + 18) = $6120

4. Miscellaneous items: Broom forgot to record a $30 withdrawal at the ATM and the bank collected a $400 note for Broom. Deduct these amounts from the bank's statement balance.

6120 - (30 + 400) = $5690

After going through each item, we find that the adjusted balance is $5690 and the checking account balance is $2210.

To prepare the bank reconciliation, you can list the items as follows:

Bank Statement Balance: $2950
Adjustments:
- Outstanding checks: $1800 ($1080 + $720)
+ Deposit in transit: $3200
- Bank charges: $30 ($12 + $18)
- Miscellaneous items: -$430 ($30 + $400)
Adjusted Balance: $5690

Therefore, the correct adjusted balance should be $5690, not $2210.

To prepare a bank reconciliation, we need to compare the company's records with the bank statement and identify any discrepancies. Let's go step-by-step through the given information:

1. Start with the bank statement balance: $2,950.
2. Add any outstanding deposits that haven't been recorded by the bank yet:
- There was a $3,200 deposit made on October 30 which is in transit.
- Add $3,200 to the previous balance: $2,950 + $3,200 = $6,150.
3. Subtract any outstanding checks that haven't been cleared by the bank:
- The bank didn't return check No. 124 for $1,080.
- The bank didn't return check No. 138 for $720.
- Subtract the total of these checks from the previous balance: $6,150 - $1,080 - $720 = $4,350.
4. Deduct any bank fees or charges:
- The bank charged $12 for check printing.
- The bank charged $18 for a NSF (Non-Sufficient Funds) check.
- Subtract the total fees from the previous balance: $4,350 - $12 - $18 = $4,320.
5. Add any deposits made by the company but not yet recorded on the bank statement:
- None mentioned in the given information.
6. Deduct any withdrawals or debits made by the company but not yet recorded on the bank statement:
- There was a $30 withdrawal at the ATM that was not recorded.
- Subtract $30 from the previous balance: $4,320 - $30 = $4,290.
7. Add any collections made by the bank on behalf of the company and not yet recorded on the bank statement:
- The bank collected a $400 note for Broom.
- Add $400 to the previous balance: $4,290 + $400 = $4,690.

Therefore, after preparing the bank reconciliation using the given information, the corrected balance should be $4,690.