Reference no: EM132781308

problem 1: Prepare bank reconciliation for XYZ Company, in good form using Excel, from the following information provided to you:

1. XYZ's general ledger has a balance of $1,140,000
2. the bank shows XYZ received $19,000 in July 2018 for a client from CRA
3. XYZ issued $1,562,000 in cheques that the bank has not shown on the bank statement
4. XYZ incorrectly entered cheque #7056 for HST for $41,600 as $4,160
5. the bank credited XYZ with $1,233,000 for proceeds of a sale of a client's real estate; XYZ's lawyers say that this property was sold but they do not have any paperwork yet
6. the bank owes XYZ $9,000 in interest for July 2018
7. XYZ booked a 1 million $US payment to a minor client with exchange at 1.73 instead of 1.37 per the bank
8. XYZ's July 31st deposit for $44,000 for a charity client does not appear on the bank statement
9. XYZ forgot to book bank charges of $5,060 in June 2018
10. a July 19th deposit was credited to XYZ's minor client as $59,998 but XYZ received only $5,998
11. XYZ's cheque #5499 was staledated and XYZ credited $39,000 back to XYZ's client's account
12. the bank shows $4,500 in debit memos on July 30th that XYZ did not book to the estate account until Aug 2nd
13. XYZ cancelled and re-deposited EFT #7059 for $10,000 to a litigant's account
14. the bank recorded a deposit as $1,090 instead of the correct amount of $10,090 that XYZ credited to a client
15. the bank statement at July 31st has a balance of $4,200,000