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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 $72,802; the bank statement on this same date showed a balance of $64,502.

2. The canceled checks returned by the bank included a check written by the Oldham Company for $1,764 that had been deducted from Oldroyd s account in error.

3. Deposits in transit as of January 31, 2003, amounted to $10,928.

4. The following amounts were adjustments to Oldroyd Company s account on the bank statement:

a. Service charges of $26.

b. An NSF check of $1,400.

c. Interest earned on the account, $40.

5. Checks written by Oldroyd Company that have not yet cleared the bank include four checks totaling $5,778.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91865193

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