Use the information below to prepare a bank reconciliation for XYZ Company for the month of...
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Use the information below to prepare a bank reconciliation for XYZ Company for the month of January. Outstanding checks as of January 31 amounted to $4,446. Deposits in transit as of January 31 amounted to $3,758. The ending balance per the January bank statement is $79,048 The bank statement shows that XYZ earned $300 of interest on its bank balance for the month of January. . The company pays its rent of $1,972 by EFT. The bank collected Dividend Revenue for the company, $12,000. The bank statement shows an EFT receipt (cash inflow into the bank for XYZ) from a customer of $962. There was a NSF check on the bank statement for $696. There was a bank charge for $40 listed on the bank statement. The ending cash balance per the books for January before any adjustments was $67,806. Prepare the bank reconciliation for XYZ Company for the month of January Use the information below to prepare a bank reconciliation for XYZ Company for the month of January. Outstanding checks as of January 31 amounted to $4,446. Deposits in transit as of January 31 amounted to $3,758. The ending balance per the January bank statement is $79,048 The bank statement shows that XYZ earned $300 of interest on its bank balance for the month of January. . The company pays its rent of $1,972 by EFT. The bank collected Dividend Revenue for the company, $12,000. The bank statement shows an EFT receipt (cash inflow into the bank for XYZ) from a customer of $962. There was a NSF check on the bank statement for $696. There was a bank charge for $40 listed on the bank statement. The ending cash balance per the books for January before any adjustments was $67,806. Prepare the bank reconciliation for XYZ Company for the month of January
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Answer To prepare the bank reconciliation for XYZ Company for the month of January well start with the ending cash balance per the books and make adju... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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