Identify which of the following items are added to or subtracted from the unadjusted bank balance to arrive at the true cash balance. Distinguish the additions from the subtractions by selecting a + beside the items that are added to the unadjusted bank balance and a – beside those that are subtracted from it. The first item is recorded as an example. (If the item is not added to or subtracted from the adjusted book balance, leave the cell blank.)
Homework Answers
| In bank reconciliation statement, all errors and ommissions in the bank statement are corrected in the bank statement and all errors in books are corrected in the books | |||
| Reconciling Item | Bank Balance adjusted? | Added or Subtracted? | Reason |
| Bank Service charge | No | Adjusted in Books | |
| Outstanding checks | Yes | - | Since bank has not deducted |
| Deposit in transit | Yes | + | Since bank has not added |
| Debit memo | No | Adjusted in Books | |
| Credit memo | No | Adjusted in Books | |
| Certified checks | No | No adjustment | |
| Petty cash voucher | No | No adjustment | |
| NSF check from customer | No | Adjusted in Books | |
| Interest Revenue | No | Adjusted in Books | |
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Identify which of the following items are added to or subtracted
from the unadjusted bank balance...
Saved 3 Required Identify which of the following items are added to or subtracted from the...
Saved 3 Required Identify which of the following items are added to or subtracted from the unadjusted bank balance to arrive at the true cash balance. Distinguish the additions from the subtractions by selecting a + beside the items that are added to the unadjusted bank balance and a - beside those that are subtracted from it. The first item is recorded as an example. (If the item is not added to or subtracted from the adjusted book balance, leave...
Saved 2 Required Identify which of the following items are added to or subtracted from the...
Saved 2 Required Identify which of the following items are added to or subtracted from the unadjusted book balance to arrive at the true cash balance. Distinguish the additions from the subtractions by selecting a + beside the items that are added to the unadjusted book balance and a - beside those that are subtracted from it. The first item is recorded as an example. (If the item is not added to or subtracted from the adjusted book balance, leave...
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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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Saved 3 Required Identify which of the following items are added to or subtracted from the unadjusted bank balance to arrive at the true cash balance. Distinguish the additions from the subtractions by selecting a + beside the items that are added to the unadjusted bank balance and a - beside those that are subtracted from it. The first item is recorded as an example. (If the item is not added to or subtracted from the adjusted book balance, leave...
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