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

Q: Define Assigning.

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Q: pos.

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A:

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is