Homework Answers
Check issued by another company but deducted from the company’s bank account should be added to the bank statement balance.
added to the bank statement balance.
2nd option.
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* M Reader MC Qu. 9-50 To arrive at an accurate balance on a bank... To...
MC Qu. 9-46 A check for $2,560 to pay a vendor... A check for $2,560 to...
MC Qu. 9-46 A check for $2,560 to pay a vendor... A check for $2,560 to pay a vendor on account was recorded in the firm's records as $2,650, the canceled check was properly listed on the bank statement at $2.560. To arrive at an accurate balance on a bank reconciliation statement Multiple Choice add $90 to the book balance deducted $2.560 from the book balance deducted $90 from the bank statement balance OOO $2650 to the bank statement balance
MC Qu. 9-38 A firm's bank reconciliation statement shows a... Afirm's bank reconciliation statement shows a...
MC Qu. 9-38 A firm's bank reconciliation statement shows a... Afirm's bank reconciliation statement shows a book balance of $16.640, a non-interest note collected by the bank of 3.400 an NSF check of $1650, and a service charge of $60. Itsad usted book balance is MC Qu. 9-38 A firm's bank reconciliation statement shows a... A firm's bank reconciliation statement shows a book balance of $16.640, a non interest note collected by the bank of $3.400 an NSF check of...
MC Qu. 9-63 Indicate in which section of the Bank Reconc... Indicate in which section of...
MC Qu. 9-63 Indicate in which section of the Bank Reconc... Indicate in which section of the Bank Reconciliation Statement the following reconciling items would appear. $XX John Bosley Co., Bank Reconciliation, April 30, 2019 Bank Statement Balance $XX Book Balance of Cash Additions: Additions: Deduction: Deduction: Adjusted Balance per Bank Statement $XX Adjusted Book Balance of Cash $XX A canceled check for $147 erroneously listed on bank statement as $74.
MC Qu. 9-65 Indicate in which section of the Bank Reconc... Indicate in which section of the Bank Reconciliation St...
MC Qu. 9-65 Indicate in which section of the Bank Reconc... Indicate in which section of the Bank Reconciliation Statement the following reconciling items would appear 25 points SXX John Bosley Co., Bank Reconciliation, April 30, 2019 Bank Statement Balance $XX Book Balance of Cash Additions: Additions: Deduction: Deduction: Adjusted Balance per Bank Statement $xx Adjusted Book Balance of Cash $XX A service charge charged by the bank
TB MC Qu. 06-137 Clayborn Company deposits... Clayborn Company deposits all cash receipts on the day...
TB MC Qu. 06-137 Clayborn Company deposits... Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $17,025. Clayborn's May bank statement shows $15.800 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Bank service fees, not yet recorded by company A NSF check from...
On a bank reconciliation, a bank fee for check printing not yet recorded by the company...
On a bank reconciliation, a bank fee for check printing not yet recorded by the company is: Multiple Choice Noted as a memorandum only. Added to the book balance of cash. Deducted from the book balance of cash. Added to the bank balance of cash. Deducted from the bank balance of cash.
the entry in a firm’s accounting records for a credit customer’s check that was returned by...
the entry in a firm’s accounting records for a credit
customer’s check that was returned by the bank marked “NSF” would
include
X M MHE Reader MC Qu. 9-56 Included with its bank statement a firm... Included with its bank statement a firm may receive a credit memorandum, which could indicate 1 Multiple Choice C ) bank service charge deducted from the firm's account balance 0 C ) the bank's return of a dishonored NSF check that was sued by...
Which one is it and why please? MC Qu. 9-10 On July 5, a company%u2019s accountan......
Which one is it and why please?
MC Qu. 9-10 On July 5, a company%u2019s accountan... On July 5, a company's accountant downloaded the firm's June 30 bank statement from the bank website. The accountant noted that an electronic funds transfer for $9,800 from Terra Cota Cataluna, a customer located in Spain, bank on June 30 but had not been recorded in the company's accounting records. What effect will this transaction have on the company's June 30 bank reconciliation? was...
7) If the balance on the bank statement does not equal the balance in the company's...
7) If the balance on the bank statement does not equal the balance in the company's cash account: A) It is perfectly normal for the two balances to be different. B) The bookkeeper made a mistake. C) Both the bank and the bookkeeper made a mistake. D) The bank made a mistake. 8) A bank reconciliation: A) Is a formal financial statement. B) Should be prepared by an employee who handles cash transactions. C) Is done only at the end...
MC Qu. 50 Suppose you observe that minor changes... Suppose you observe that minor changes in...
MC Qu. 50 Suppose you observe that minor changes... Suppose you observe that minor changes in supply seem to cause dramatic changes in price with only slight changes in the amount sold, you would conclude that Multiple Choice O demand is inelastic. O demand is perfectly inelastic O demand is elastic O demand is unit elastic. MC Qu. 145 The cross price elasticity of demand... The cross price elasticity of demand is (mathematically) the Multiple Choice 0 percentage change in...
MC Qu. 9-46 A check for $2,560 to pay a vendor... A check for $2,560 to pay a vendor on account was recorded in the firm's records as $2,650, the canceled check was properly listed on the bank statement at $2.560. To arrive at an accurate balance on a bank reconciliation statement Multiple Choice add $90 to the book balance deducted $2.560 from the book balance deducted $90 from the bank statement balance OOO $2650 to the bank statement balance
MC Qu. 9-38 A firm's bank reconciliation statement shows a... Afirm's bank reconciliation statement shows a book balance of $16.640, a non-interest note collected by the bank of 3.400 an NSF check of $1650, and a service charge of $60. Itsad usted book balance is MC Qu. 9-38 A firm's bank reconciliation statement shows a... A firm's bank reconciliation statement shows a book balance of $16.640, a non interest note collected by the bank of $3.400 an NSF check of...
MC Qu. 9-63 Indicate in which section of the Bank Reconc... Indicate in which section of the Bank Reconciliation Statement the following reconciling items would appear. $XX John Bosley Co., Bank Reconciliation, April 30, 2019 Bank Statement Balance $XX Book Balance of Cash Additions: Additions: Deduction: Deduction: Adjusted Balance per Bank Statement $XX Adjusted Book Balance of Cash $XX A canceled check for $147 erroneously listed on bank statement as $74.
MC Qu. 9-65 Indicate in which section of the Bank Reconc... Indicate in which section of the Bank Reconciliation Statement the following reconciling items would appear 25 points SXX John Bosley Co., Bank Reconciliation, April 30, 2019 Bank Statement Balance $XX Book Balance of Cash Additions: Additions: Deduction: Deduction: Adjusted Balance per Bank Statement $xx Adjusted Book Balance of Cash $XX A service charge charged by the bank
TB MC Qu. 06-137 Clayborn Company deposits... Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of business on May 31, its Cash account shows a debit balance of $17,025. Clayborn's May bank statement shows $15.800 on deposit in the bank. Determine the adjusted cash balance using the following information: Deposit in transit Outstanding checks Bank service fees, not yet recorded by company A NSF check from...
the entry in a firm’s accounting records for a credit
customer’s check that was returned by the bank marked “NSF” would
include
X M MHE Reader MC Qu. 9-56 Included with its bank statement a firm... Included with its bank statement a firm may receive a credit memorandum, which could indicate 1 Multiple Choice C ) bank service charge deducted from the firm's account balance 0 C ) the bank's return of a dishonored NSF check that was sued by...
Which one is it and why please?
MC Qu. 9-10 On July 5, a company%u2019s accountan... On July 5, a company's accountant downloaded the firm's June 30 bank statement from the bank website. The accountant noted that an electronic funds transfer for $9,800 from Terra Cota Cataluna, a customer located in Spain, bank on June 30 but had not been recorded in the company's accounting records. What effect will this transaction have on the company's June 30 bank reconciliation? was...
MC Qu. 50 Suppose you observe that minor changes... Suppose you observe that minor changes in supply seem to cause dramatic changes in price with only slight changes in the amount sold, you would conclude that Multiple Choice O demand is inelastic. O demand is perfectly inelastic O demand is elastic O demand is unit elastic. MC Qu. 145 The cross price elasticity of demand... The cross price elasticity of demand is (mathematically) the Multiple Choice 0 percentage change in...
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