Scribd Logo
Upload

Welcome to Scribd!

  • Bank Recolonization

    Uploaded by

    asma
    478 views1 page
    XYZ Company must reconcile its bank statement that shows an ending balance of $300,000 with its ledger balance of $260,900. The reconciliation includes a $100 bank service charge, $20 interest income, $50,000 in outstanding checks, and $20,000 in undeposited funds. Errors were also made in recording a $470 check as $370 and a $9,800 collection by the bank of a note receivable. Additionally, a $520 deposit was charged back as non-sufficient funds.

    Original Description:

    Original Title

    bank recolonization

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    XYZ Company must reconcile its bank statement that shows an ending balance of $300,000 with its ledger balance of $260,900. The reconciliation includes a $100 bank service charge, $20 interest income, $50,000 in outstanding checks, and $20,000 in undeposited funds. Errors were also made in recording a $470 check as $370 and a $9,800 collection by the bank of a note receivable. Additionally, a $520 deposit was charged back as non-sufficient funds.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    478 views1 page

    Bank Recolonization

    Uploaded by

    asma
    XYZ Company must reconcile its bank statement that shows an ending balance of $300,000 with its ledger balance of $260,900. The reconciliation includes a $100 bank service charge, $20 interest income, $50,000 in outstanding checks, and $20,000 in undeposited funds. Errors were also made in recording a $470 check as $370 and a $9,800 collection by the bank of a note receivable. Additionally, a $520 deposit was charged back as non-sufficient funds.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    XYZ Company is closing its books and must prepare a bank reconciliation for

    the following items:

     Bank statement contains an ending balance of $300,000 on February 28,


    2018, whereas the company’s ledger shows an ending balance of
    $260,900
     Bank statement contains a $100 service charge for operating the
    account
     Bank statement contains interest income of $20
     XYZ issued checks of $50,000 that have not yet been cleared by the
    bank
     XYZ deposited $20,000 but this did not appear on the bank statement
     A check for the amount of $470 issued to the office supplier was
    misreported in the cash payments journal as $370.
     A note receivable of $9,800 was collected by the bank.
     A check of $520 deposited by the company has been charged back as
    NSF

    Answer:

    You might also like