Rexrode Company's bank statement at January 31 showed an ending balance of $24,712.80. The unadjusted cash account balance forRexrode 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: $20.00Credit memo for interest earned: $12.00• Deposits in transit: $1,236.77Required: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 BIndicate 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.ItemOutstanding checksNSF check from a customerDebit memo related to the returned depositCredit memo related to interest earnedDeposit in transitCashAssets(183.62)(20.00)Rexrode CompanyHorizontal Statements ModelBalance SheetAccountsReceivables183.6211111=Liabilities++++Stockholders'EquityRevenueIncome StatementExpenses11NetIncomeStatementCash Flow+

The bank reconciliation statement is prepared to equate the balances in the cash book and passbook…

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. adiunting ontrior impact the financial statements.

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. adiunting ontrior impact the financial statements.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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