The following is information for XQ Technology, Inc. Balance per Bank, 9/30/20: $6,915 Balance per Bank, 10/31/20: $8,276 Outstanding checks at 9/30/20: $1,811 Outstanding checks at 10/31/20: 2,615 Bank Cash Deposits for October: $28,792 Book Cash Deposits for October: You need to calculate, must show the actual calculation Deposit in Transit, 09/30/20: $5,621 Deposit in Transit, 10/30/20: $996 Checks & Charges per Bank: $27,431 Checks & Charges per Book: You need to calculate, must show the actual calculation Interest on bank loan for the month of October, charged by the bank in October but not entered on Books until November: $596 Proceeds of a note of XYZ company was collected by the bank on October 26th, but not entered on the books until November, $3,296 On October 24th, a check of $1,144 was charged to the XQ Technology, account by bank in error (Bank pulled $1,144 from XQs account in error). NSF checks are not recorded on the books unless they permanently fail to clear the bank. Checks totaling $1,335 were dishonored in October $600 were redeposited and cleared in October and $735 were redeposited and cleared in November

Outline of problem:

Prepare a four-column Proof of Cash:

The following is information for XQ Technology, Inc.

Balance per Bank, 9/30/20: $6,915

Balance per Bank, 10/31/20: $8,276

Outstanding checks at 9/30/20: $1,811

Outstanding checks at 10/31/20: 2,615

Bank Cash Deposits for October: $28,792

Book Cash Deposits for October: You need to calculate, must show the actual calculation

Deposit in Transit, 09/30/20: $5,621

Deposit in Transit, 10/30/20: $996

Checks & Charges per Bank: $27,431

Checks & Charges per Book: You need to calculate, must show the actual calculation

Interest on bank loan for the month of October, charged by the bank in October but not entered on Books until November: $596

Proceeds of a note of XYZ company was collected by the bank on October 26^th, but not entered on the books until November, $3,296

On October 24^th, a check of $1,144 was charged to the XQ Technology, account by bank in error (Bank pulled $1,144 from XQs account in error). Bank notified XQ Technology, inc., and corrected error in November.

NSF checks (from customers) are not recorded on the books unless they permanently fail to clear the bank. Checks totaling $1,335 were dishonored in October; $600 were redeposited and cleared on October and $735 were redeposited and cleared in November