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Use the information below to prepare a bank reconciliation for Doggy Day Care Company for the month of January.
• Outstanding checks as of January 30 amounted to $2,704.
• Deposits in transit as of January 30 amounted to $1,879.
• The ending balance per the January bank statement is $36,482.
• The bank statement shows that Doggy Day Care earned $150 of interest on its bank balance for the month of January.
• The bank mistakenly recorded a deposit of $2,800 as $280 on January 15.
• The Doggy Day Care pays its insurance of $986 by EFT.
• Bank collected a note, for $3,000.
• There was a NSF check on the bank statement for $368
• The ending cash balance per the books for January before any adjustments was $36,381.
Calculating Figures Conservatively
Estimating numbers or financial data in a cautious manner, often underestimating to avoid overstatement or risk.
Budgets
Financial plans that outline expected income and expenses over a specified period, guiding spending and resource allocation decisions.
Proposal
A formal suggestion or plan put forward for consideration or discussion by others.
Methods Section
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