ROK has the following bank balances in XYZ bank: Savings Account: $20,000 ...
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ROK has the following bank balances in XYZ bank: Savings Account: $ Checking Accounts: $ overdraft. How should ROK Company report this $ overdraft in their checking account? As a current liability on their balance sheet, adding it to the balance in accounts payable. It MUST be offset with the $ saving account balance It can either show it as a current liability OR offsct it with the $ As a seperate line item as a negative amount uncter "Cash" 
ROK has the following bank balances in XYZ bank:
Savings Account: $
Checking Accounts: $ overdraft.
How should ROK Company report this $ overdraft in their checking account?
As a current liability on their balance sheet, adding it to the balance in accounts payable.
It MUST be offset with the $ saving account balance
It can either show it as a current liability OR offsct it with the $
As a seperate line item as a negative amount uncter "Cash"
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