Prepare the bank reconciliation statement of GW Trading for the month of January 2021. GW Trading's...

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Prepare the bank reconciliation statement of GW Trading for the month of January 2021. GW Trading's bank statement for the month of January showed a balance per bank of Php 81,000. Cash balance per general ledger is Php 77,700 at the end of the month. Additional information for the month is as follows: 1. Bank statement has Php 1,200 bank service charge. 2. Outstanding checks as of January 31 amounted to Php 18,000. 3. NSF check in the amount of Php 1,680 was returned by the bank. 4. Cash receipts in the amount of Php 15,600 recorded in the company's books on the month does not appear on the bank statement. 5. A credit memo in the amount of Php 3,780 represents a customer's note collected by the bank in the amount of Php 3,600 with accrued interest of Php 180. Prepare the bank reconciliation statement of GW Trading for the month of January 2021. GW Trading's bank statement for the month of January showed a balance per bank of Php 81,000. Cash balance per general ledger is Php 77,700 at the end of the month. Additional information for the month is as follows: 1. Bank statement has Php 1,200 bank service charge. 2. Outstanding checks as of January 31 amounted to Php 18,000. 3. NSF check in the amount of Php 1,680 was returned by the bank. 4. Cash receipts in the amount of Php 15,600 recorded in the company's books on the month does not appear on the bank statement. 5. A credit memo in the amount of Php 3,780 represents a customer's note collected by the bank in the amount of Php 3,600 with accrued interest of Php 180.

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To prepare the bank reconciliation statement for GW Trading for the month of January 2021 we need to account for the differences between the bank stat... View the full answer