XYZ company has made the following bank reconciliation but the adjusted balances do not hold. Cash balance per bank 4550 Add: NSF check 700 Less: Collection of Notes Receivable 1250 Less: Bank service charge 150 Adjusted balance per bank 3850 Cash balance per books 5570 Less: Deposits in transit 2400 Add: Outstanding checks 980 Adjusted balance per books 6550 Instructions a. Prepare a correct bank reconciliation by filling in the missing information. Cash balance per bank statement.. £4550 Add: Less: Adjusted cash balance per bank . 5970 Cash balance per books. 5570 Add: Less: Adjusted cash balance per books 5970
XYZ company has made the following bank reconciliation but the adjusted balances do not hold. Cash balance per bank 4550 Add: NSF check 700 Less: Collection of Notes Receivable 1250 Less: Bank service charge 150 Adjusted balance per bank 3850 Cash balance per books 5570 Less: Deposits in transit 2400 Add: Outstanding checks 980 Adjusted balance per books 6550 Instructions a. Prepare a correct bank reconciliation by filling in the missing information. Cash balance per bank statement.. £4550 Add: Less: Adjusted cash balance per bank . 5970 Cash balance per books. 5570 Add: Less: Adjusted cash balance per books 5970
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Fill in the blanks:

Transcribed Image Text:XYZ company has made the following bank reconciliation but the adjusted balances do not hold.
Cash balance per bank
4550
Add: NSF check
700
Less: Collection of Notes
Receivable
1250
Less: Bank service charge
150
Adjusted balance per bank
3850
Cash balance per books
5570
Less: Deposits in transit
2400
Add: Outstanding checks
980
Adjusted balance per books
6550
Instructions
a. Prepare a correct bank reconciliation by filling in the missing information.
Cash balance per bank statement .
£4550
Add:
Less:
Adjusted cash balance per bank .
5970
Cash balance per books...
5570
Add:
Less:
Adjusted cash balance per books
5970
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