Prepare a bank reconciliation for Oldroyd Company at January 31, 2003, using the information shown.
1. Cash per the accounting records at January 31 amounted to ; the bank statement on this same date showed a balance of .
2. The canceled checks returned by the bank included a check written by the Oldham Company for that had been deducted from Oldroyd's account in error.
3. Deposits in transit as of January 31, 2003, amounted to .
4. The following amounts were adjustments to Oldroyd Company's account on the bank statement:
a. Service charges of .
b. An NSF check of .
c. Interest earned on the account, .
5. Checks written by Oldroyd Company that have not yet cleared the bank include four checks totaling .
The bank reconciliation is prepared as follows:
Particulars | Amount$ |
Bank Statement Balance | 64,502 |
Add : Deposists in transit | 10,928 |
Add : Cancelled check returned | 1,764 |
Less : Outstanding check returned | 5,778 |
Adjusted Bank Balance | 71,416 |
Particulars | Amount$ |
Book Balance | 72,802 |
Add : Interest earned on account | 40 |
Less : Service charges | 26 |
Less : NSF Check | 1,400 |
Adjusted Book Balance | 71,416 |
Prepare a bank reconciliation for Oldroyd Company at January 31, 2003, using the information shown.
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