Question
A. What is a bank reconciliation and why is it important for companies to do it periodically? B. Prepare a Bank Reconciliation Statement for XYZ
A. What is a bank reconciliation and why is it important for companies to do it periodically?
B. Prepare a Bank Reconciliation Statement for XYZ company that has:
- Bank statement of $9,000.
- Cash account of $7,500.
Additional information for the reconciliation:
- Deposit in transit.
- NSF Check.
- Outstanding check.
- Collections made by the bank.
Required: provide an amount of each information to bring the adjusted balances to be equal
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IATF 16949 2016 Plus ISO 9001 2015 Audit Guide And Checklist With ISO 9001 Customer Specific Core Tools And CQI Requirments
Authors: Patrick Ambrose, Systemsthinking .works
2nd Edition
154703355X, 978-1547033553
