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The bookkeeper prepared a check for $68 but accidentally recorded it as $86. When preparing the...
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...
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.
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.
Test How will a certified check be shown on a company's bank reconciliation? Multiple Choice 0 As a deduction to...
Test How will a certified check be shown on a company's bank reconciliation? Multiple Choice 0 As a deduction to the company's unadjusted book balance. 0 As an increase to the bank's unadjusted bank balance. 0 As a deduction to the bank's unadjusted bank balance. 0 There is no adjustment when preparing the bank reconciliation est i How is a customer's NSF check reflected on a bank reconciliation? Multiple Choice 0 Subtracted from the unadjusted book balance to get the...
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
Gray Construction Inc. has poor internal control. Recently, Frank Root, the owner, has suspected the bookkeeper...
Gray Construction Inc. has poor internal control. Recently, Frank Root, the owner, has suspected the bookkeeper of stealing. Here are some details of the business's cash position at December 31, 2017: (Click on the icon to view additional information.) Requirement Begin by preparing the bank section of the bank reconciliation. Then, continue with the book section of the bank reconciliation. (Leave unused cells blank.) Gray Construction Inc. Bank Reconciliation December 31, 2017 BANK: Add: Requirement Less: BOOKS Root has requested...
D) subtraction of $90 to the balance per books. 14) If a bookkeeper mistakenly records a...
D) subtraction of $90 to the balance per books. 14) If a bookkeeper mistakenly records a disbursement as $69 instead of the correct amount of $96, the error should be shown on the bank reconciliation as a: A) $27 addition to the balance per books. B) $27 deduction from the balance per books. C) $165 addition to the balance per books. D) $165 deduction from the balance per books. 15) A check received from a customer for which there are...
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.''*****
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...
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...
Test How will a certified check be shown on a company's bank reconciliation? Multiple Choice 0 As a deduction to the company's unadjusted book balance. 0 As an increase to the bank's unadjusted bank balance. 0 As a deduction to the bank's unadjusted bank balance. 0 There is no adjustment when preparing the bank reconciliation est i How is a customer's NSF check reflected on a bank reconciliation? Multiple Choice 0 Subtracted from the unadjusted book balance to get the...
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
Gray Construction Inc. has poor internal control. Recently, Frank Root, the owner, has suspected the bookkeeper of stealing. Here are some details of the business's cash position at December 31, 2017: (Click on the icon to view additional information.) Requirement Begin by preparing the bank section of the bank reconciliation. Then, continue with the book section of the bank reconciliation. (Leave unused cells blank.) Gray Construction Inc. Bank Reconciliation December 31, 2017 BANK: Add: Requirement Less: BOOKS Root has requested...
D) subtraction of $90 to the balance per books. 14) If a bookkeeper mistakenly records a disbursement as $69 instead of the correct amount of $96, the error should be shown on the bank reconciliation as a: A) $27 addition to the balance per books. B) $27 deduction from the balance per books. C) $165 addition to the balance per books. D) $165 deduction from the balance per books. 15) A check received from a customer for which there are...
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