Homework Answers
| A bank does not issue a debit memorandum to notify the depositor of a deposit to the depositor's account. |
| A credit memorandum is used to notify the depositor of a deposit to the depositor' account. |
| A deduction in a bank account is notified by a debit memorandum. |
| Option B is correct |
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Top Save & Exit Slide 4 chapter 06: Cash, Fraud, and Internal Controls Prepare a bank...
Match the descriptions with the appropriate terms. Bank Reconciliation a. Statement issued by bank describing the...
Match the descriptions with the appropriate terms. Bank Reconciliation a. Statement issued by bank describing the activities in a depositor's checking account NSF Check b. A document prepared by the bank to explain a deduction from a depositor's account. Debit Memo Deposit in Transit C. The party to whom the check is payable to. Payee d. Statement prepared by company personnel to explain the difference between the cash balance on Check the bank statement versus the cash balance on the...
Chapter 8 Cash, Fraud, and Internal Controls bank or book 3-5 reconciliation uch of the following...
Chapter 8 Cash, Fraud, and Internal Controls bank or book 3-5 reconciliation uch of the following items a through g. indicate whether its amount (1) affects the bank of a bank reconciliation. (2) represents an addition or a subtraction in a bank reconciliation and quires an adjusting journal entry. Add or Subtract Adj. Entry or Not Bank or Book Side a. Interest on cash balance ...... b. Bank service charges........... c. Minimum balance charge... d. Outstanding checks e. Credit memo...
Exercise 4-44 (Algorithmic) Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of...
Exercise 4-44 (Algorithmic) Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $21,676, whereas Johnson's cash account shows a balance of $21,220 on October 31. The following additional information is available: A $755 deposit made on October 31 was not recorded by the bank until November. At the end of October, outstanding checks total $1,222. The bank statement shows bank service charges of $125 not yet recorded by the company. The company erroneously recorded as $973...
Blueprint Connection: Cash and Bank Reconciliation Cash and Cash Controls Cash includes coins, paper currency, checks,...
Blueprint Connection: Cash and Bank Reconciliation Cash and Cash Controls Cash includes coins, paper currency, checks, money orders, and money deposited with a financial institution that the company can withdraw at any time. The key to classification of an amount as cash is that it be readily available to pay debts. Cash is a reported on the . Cash also includes items properly classified as cash equivalents. These are limited to investments that are readily convertible to known amounts of cash and...
Help Save & Exit On March 31, 2019, Home Decorating Pavilion received a bank statement showing...
Help Save & Exit On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,840. The balance in the firm's checkbook and Cash account on the same date was $10.745. The difference between the two balances is caused by the items listed below. a. A $3.260 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $560 issued on March 29 and Check 359 for $1.480 issued on March...
Y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September...
y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September 30. a A customer's check for NSF was charged the company's account a $25 processing fee. $100 marked NSF was returned to Brown Company by the bank. In addition, the bank b. The September 30 cash reccipts, 51,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c....
The following information was used to prepare the March, bank reconciliation for Benson Machine Works. Identify...
The following information was used to prepare the March, bank reconciliation for Benson Machine Works. Identify the items that require adjustment to the cash balance per books and prepare the appropriate adjusting entries. 1. Included with the bank statement materials was a check from Jim Trent for $70 stamped "NSF." 2. A personal deposit by Sam Benson to his personal account in the amount of $300 for dividends on his General Motors common stock was credited to the...
Exercise 4-44 Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $22,381,...
Exercise 4-44 Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $22,381, whereas Johnson's cash account shows a balance of $22,025 on October 31. The following additional information is available: a. A $855 deposit made on October 31 was not recorded by the bank until November b. At the end of October, outstanding checks total $1,222. C. The bank statement shows bank service charges of $125 not yet recorded by the company. d. The company erroneously...
Chapter 5 Homework Help Save & Exit Submit 10 Cottage Co. deposits all cash receipts on...
Chapter 5 Homework Help Save & Exit Submit 10 Cottage Co. deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on December 31, its Cash account shows a debit balance of $18.453 The company's bank statement as of December 31 shows an ending cash balance of $15.981. The following information was also available Outstanding checks as of December 31 total $2,291 . Included with the...
Exercise 4-44 (Algorithmic) Bank Reconciliation
Exercise 4-44 (Algorithmic)Bank ReconciliationJohnson Corporation's bank statement for October reports an ending balance of $19,099, whereas Johnson's cash account shows a balance of $18,763 on October 31. The following additional information is available:A $875 deposit made on October 31 was not recorded by the bank until November.At the end of October, outstanding checks total $1,222.The bank statement shows bank service charges of $125 not yet recorded by the company.The company erroneously recorded as $973 a check that it had actually...
Match the descriptions with the appropriate terms. Bank Reconciliation a. Statement issued by bank describing the activities in a depositor's checking account NSF Check b. A document prepared by the bank to explain a deduction from a depositor's account. Debit Memo Deposit in Transit C. The party to whom the check is payable to. Payee d. Statement prepared by company personnel to explain the difference between the cash balance on Check the bank statement versus the cash balance on the...
Chapter 8 Cash, Fraud, and Internal Controls bank or book 3-5 reconciliation uch of the following items a through g. indicate whether its amount (1) affects the bank of a bank reconciliation. (2) represents an addition or a subtraction in a bank reconciliation and quires an adjusting journal entry. Add or Subtract Adj. Entry or Not Bank or Book Side a. Interest on cash balance ...... b. Bank service charges........... c. Minimum balance charge... d. Outstanding checks e. Credit memo...
Help Save & Exit On March 31, 2019, Home Decorating Pavilion received a bank statement showing a balance of $9,840. The balance in the firm's checkbook and Cash account on the same date was $10.745. The difference between the two balances is caused by the items listed below. a. A $3.260 deposit made on March 30 does not appear on the bank statement. b. Check 358 for $560 issued on March 29 and Check 359 for $1.480 issued on March...
y's bank statement for September 30 showed a cash balance of $1,350. The company's Cash September 30. a A customer's check for NSF was charged the company's account a $25 processing fee. $100 marked NSF was returned to Brown Company by the bank. In addition, the bank b. The September 30 cash reccipts, 51,250, were placed in the bank's night depository after banking hours on that date and this amount did not appear on the September 30 bank statement. c....
Exercise 4-44 Bank Reconciliation Johnson Corporation's bank statement for October reports an ending balance of $22,381, whereas Johnson's cash account shows a balance of $22,025 on October 31. The following additional information is available: a. A $855 deposit made on October 31 was not recorded by the bank until November b. At the end of October, outstanding checks total $1,222. C. The bank statement shows bank service charges of $125 not yet recorded by the company. d. The company erroneously...
Chapter 5 Homework Help Save & Exit Submit 10 Cottage Co. deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on December 31, its Cash account shows a debit balance of $18.453 The company's bank statement as of December 31 shows an ending cash balance of $15.981. The following information was also available Outstanding checks as of December 31 total $2,291 . Included with the...
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