You Have Been Provided with the Following Information for XYZ

question 54

Essay

You have been provided with the following information for XYZ Corporation and its bank, ABC Trust Company.
From the Bank Statement at the end of May 2002: $\begin{array} { | l | l | } \hline \text { Ending balance } & \$ 30,399.00 \\\hline \text { Bank charges } & 26.10 \\\hline \text { NSF cheque } & 5,400.00 \\\hline \text { Interest collected on a note for the company by the bank } & 635.10 \\\hline\end{array}$
From the cash records of the company at the end of May 2002: $\begin{array}{|l|l|}\hline \text { Cash on hand } & \$ 300.00 \\\hline \text { Ending balance, cash (including cash on hand) } & 52,500.00 \\\hline \text { Unrecorded deposits } & 21,000.00 \\\hline\end{array}$
$\text { Outstanding cheques: }$
$\begin{array}{|l|l|}\hline \text { No. 30 } & \$ 1,800.00 \\\hline \text { No. 48 } & 519.99 \\\hline \text { No. 50 } & 410.01 \\\hline \text { No. 51 } & 564.00 \\\hline \text { No. 55 } & 642.00 \\\hline\end{array}$ Additional information:
Error on cheque No. 12. The cheque was correctly drawn for $882.00, but was shown as $828.00 on the bank statement.