If a check correctly written and paid by the bank for $342 is incorrectly recorded in...
- If a check correctly written and paid by the bank for $342 is incorrectly recorded in the company's books for $290, how should this error be treated on the bank reconciliation?
Homework Answers
| Amount of error = 342-290= $52 |
| The appropriate treatment on the bank reconciliation would be to: |
| Subtract $52 from the book’s balance. |
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If a check correctly written and paid by the bank for $342 is
incorrectly recorded in...
I want a detailed explanation- No copy past, please. If a check correctly written and paid...
I want a detailed explanation- No copy past, please. If a check correctly written and paid by the bank for $342 is incorrectly recorded in the company's books for $290, how should this error be treated on the bank reconciliation?
If a check correctly written and paid by the bank for $292 is incorrectly recorded in...
If a check correctly written and paid by the bank for $292 is incorrectly recorded in the company's books for $245, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $47 from the book balance. Subtract $47 from the bank's balance. Subtract $47 from the bank's balance and add $47 to the book's balance. Add $47 to the book balance. Add $47 to the bank's balance.
If a check correctly written and paid by the bank for $328 is incorrectly recorded in...
If a check correctly written and paid by the bank for $328 is incorrectly recorded in the company's books for $382, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $54 from the bank's balance and add $45 to the book's balance. Subtract $54 from the bank's balance. Add $54 to the bank's balance. Add $54 to the book balance. Subtract $54 from the book balance.
If a check correctly written and paid by the bank for $413 is incorrectly recorded in...
If a check correctly written and paid by the bank for $413 is incorrectly recorded in the company's books for $431, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $18 from the bank's balance. Add $18 to the book balance. Add $18 to the bank's balance. Subtract $18 from the bank's balance and add $45 to the book's balance. Subtract $18 from the book balance. During the month of July, Clanton Industries issued a check...
If a check correctly written and paid by the bank for $560 is incorrectly recorded on...
If a check correctly written and paid by the bank for $560 is incorrectly recorded on the company’s books as $506, the appropriate treatment on the bank reconciliation would be to deduct $54 from the book balance. deduct $560 from the book balance. add $54 to the book balance. deduct $54 from the bank balance. ***** the answer is not " add $54 to the book balance.''*****
A check was written by a business for $507 but was recorded in the journal as...
A check was written by a business for $507 but was recorded in the journal as $705. How would this error be included on the bank reconciliation? Group of answer choices an addition on the book side an addition on the bank side a deduction on the book side a deduction on the bank side
Complete the following table for a monthly bank reconciliation dated January 31. For each item 1-10,...
Complete the following table for a monthly bank reconciliation dated January 31. For each item 1-10, place an "x" in the appropriate column to indicate whether the item should be added or subtracted from the book or bank balance or not shown on the bank reconciliation 1. Night deposit made on January 31 after the bank closed. 2. A check written in February of the same year as the bank statement 3. Principal and interest on a note collected by...
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at june...
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at june 30 $9,172.54 Balance per Cash account, June 30. Balance per bank statement,June 30. Deposits not reflected on bank statement Outstanding checks, June 30. Service charge on bank statement not recorded in books Error by bank-Yertel Company check charged on oung Company's bank statement Check for advertising expense incorrectly recorded in books as 14.3 715 YOUNG COMPANY Bank Reconciliation June 30 0Balance from general ledger...
2 A company wants to decrease its $200.00 petty cash fund to $75.00. The entry to...
2
A company wants to decrease its $200.00 petty cash fund to $75.00. The entry to reduce the fund is: Multiple Choice Debit Petty Cash for $75.00; debit Cash Over and Short $180.00; credit Cash $200.00 Debit Cash Over and Short for $8.75; credit Petty Cash $8.75 Debit Miscellaneous Expenses $20.00; credit Cash $20.00. Debit to Cash $125.00; credit Petty Cash $125.00. Debit Petty Cash $105.00; credit Cash $105.00. If a check correctly written and paid by the bank for...
QUESTION 4 The following information is collected when recording Scofield Company bank statement for the month of June. RM7,328 Balance per books June 30 Balance per bank statement June 30 RM21,800 C...
QUESTION 4 The following information is collected when recording Scofield Company bank statement for the month of June. RM7,328 Balance per books June 30 Balance per bank statement June 30 RM21,800 Checks written in June but still outstanding RM14,009 Checks written in Maybut still outtanding RM6,200 Deposits of June 29 and 30 not yet recorded by bank RM10.400. . NSF check of customer returned by bank RM2.400, . Check No. 200 for RM1,186 was correctly issued and paid by bank...
If a check correctly written and paid by the bank for $413 is incorrectly recorded in the company's books for $431, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $18 from the bank's balance. Add $18 to the book balance. Add $18 to the bank's balance. Subtract $18 from the bank's balance and add $45 to the book's balance. Subtract $18 from the book balance. During the month of July, Clanton Industries issued a check...
Complete the following table for a monthly bank reconciliation dated January 31. For each item 1-10, place an "x" in the appropriate column to indicate whether the item should be added or subtracted from the book or bank balance or not shown on the bank reconciliation 1. Night deposit made on January 31 after the bank closed. 2. A check written in February of the same year as the bank statement 3. Principal and interest on a note collected by...
Bank Reconciliation Use the following information to prepare a bank reconciliation for Young Company at june 30 $9,172.54 Balance per Cash account, June 30. Balance per bank statement,June 30. Deposits not reflected on bank statement Outstanding checks, June 30. Service charge on bank statement not recorded in books Error by bank-Yertel Company check charged on oung Company's bank statement Check for advertising expense incorrectly recorded in books as 14.3 715 YOUNG COMPANY Bank Reconciliation June 30 0Balance from general ledger...
2
A company wants to decrease its $200.00 petty cash fund to $75.00. The entry to reduce the fund is: Multiple Choice Debit Petty Cash for $75.00; debit Cash Over and Short $180.00; credit Cash $200.00 Debit Cash Over and Short for $8.75; credit Petty Cash $8.75 Debit Miscellaneous Expenses $20.00; credit Cash $20.00. Debit to Cash $125.00; credit Petty Cash $125.00. Debit Petty Cash $105.00; credit Cash $105.00. If a check correctly written and paid by the bank for...
QUESTION 4 The following information is collected when recording Scofield Company bank statement for the month of June. RM7,328 Balance per books June 30 Balance per bank statement June 30 RM21,800 Checks written in June but still outstanding RM14,009 Checks written in Maybut still outtanding RM6,200 Deposits of June 29 and 30 not yet recorded by bank RM10.400. . NSF check of customer returned by bank RM2.400, . Check No. 200 for RM1,186 was correctly issued and paid by bank...
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