A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance
A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.)
1. NSF check from a customer is shown on the bank statement but not yet recorded by the company.
2. Checks written by another depositor but mistakenly charged against this companyâs account.
3. Outstanding checks to suppliers existed at the end of September.
4. Check written against the company's account and cleared by the bank; erroneously not recorded by the company's recordkeeper.
5. Bank service charge for September is not yet recorded by the company.
6. The company made a month-end accrual for wages earned but not yet paid.
7. A customer sent an NSF check in payment of their account. The company did not know it was NSF until they received the bank statement.
8. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT.
9. The company made a month-end accrual for expired insurance coverage.
10. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2.
11. The company had outstanding checks to employees on September 30.
12. The company hired a new treasurer.
Homework Answers
| Sr. No. | Item | Bank Balance | Book Balance |
| 1 | NSF Check from a customer shown on bank statement, but not yet recorded by the company | NA | Subtract |
| 2 | Checks written by another depositer but mistakenly charged again this company's account | Add | NA |
| 3 | Outstanding checks to suppliers existed at the end of september | Subtract | NA |
| 4 | Check written against companys account and cleared by the bank erroneously not recorded by the companys record keeper | NA | Subtract |
| 5 | Bank Service charge for september is not yet recorded by the company | NA | Subtract |
| 6 | The company made a month end accrual for wages earned but not yet paid | NA | NA |
| 7 | a customer sent an NSF Check in payment of their account, the company did not know it wad NSF until they received the bank statement | NA | Subtract |
| 8 | The bank received an electronic funds transferred (EFT) and deposited the amount in the companys account on september 30. Company has not yet recorde thit EFT | NA | Add |
| 9 | The company made a month end accrual for expired insurance coverage | NA | NA |
| 10 | Deposits mailed to the bank on sept 30 had not been recorded by the bank until oct 2 | Add | NA |
| 11 | the company had outstanding checks to employees on sept 30 | NA | NA |
| 12 | the company hired new treasurer | NA | NA |
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A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance
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an adjustment for a deposit in transit of $1,200, outstanding
checks of $1,600, a NSF check of $560, bank service charges of $24
and the EFT from a customer in payment of the customer's account of
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