Rexrode Company's bank statement at January 31 showed an ending balance of $24,712.80. The unadjusted cash...
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Rexrode Company's bank statement at January 31 showed an ending balance of $24,712.80. The unadjusted cash account balance for Rexrode is $21,245.75. The following data were gathered by Rexrode's accountant: Outstanding checks as of January 31: $4,895.44 NSF check from customer: $183.62 Debit memo related to the returned deposit: $20.00 Credit memo for interest earned: $12.00 Deposits in transit: $1,236.77 Required: a. Prepare a bank reconciliation for Rexrode Company at January 31. b. Indicate how each of the required adjusting entries impact the financial statements. Complete this question by entering your answers in the tabs below. Required A Required B Indicate how each of the required adjusting entries impact the financial statements. Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Round your answers to 2 decimal places. Rexrode Company Horizontal Statements Model Balance Sheet Income Statement Outstanding checks Item NSF check from a customer Debit memo related to the returned deposit Credit memo related to interest earned Deposit in transit Assets Cash Accounts Receivables Liabilities Stockholders' Equity Revenue (183.62) (20.00) 183.62= + ++ + Statement Expenses = Net Income Cash Flow | " " " " " + Rexrode Company's bank statement at January 31 showed an ending balance of $24,712.80. The unadjusted cash account balance for Rexrode is $21,245.75. The following data were gathered by Rexrode's accountant: Outstanding checks as of January 31: $4,895.44 NSF check from customer: $183.62 Debit memo related to the returned deposit: $20.00 Credit memo for interest earned: $12.00 Deposits in transit: $1,236.77 Required: a. Prepare a bank reconciliation for Rexrode Company at January 31. b. Indicate how each of the required adjusting entries impact the financial statements. Complete this question by entering your answers in the tabs below. Required A Required B Indicate how each of the required adjusting entries impact the financial statements. Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave cells blank if no input is needed. Round your answers to 2 decimal places. Rexrode Company Horizontal Statements Model Balance Sheet Income Statement Outstanding checks Item NSF check from a customer Debit memo related to the returned deposit Credit memo related to interest earned Deposit in transit Assets Cash Accounts Receivables Liabilities Stockholders' Equity Revenue (183.62) (20.00) 183.62= + ++ + Statement Expenses = Net Income Cash Flow | " " " " " +
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Rexrode Companys bank statement at January 31 showed an ending balance of 2471280 The unadjusted cas... View the full answer
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
Posted Date:
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