Homework Answers
6. Outstanding checks
We have to deduct outstanding checks from bank balance ( BANK STATEMENT), because bank balance will reduce after clearing the outstanding checks
No adjustment needed in company's account because it is already recorded in the company's books
7. Error in Recording Amount
The difference of $ 540 (823 -283) is to be deducted from Cash books ( Company;s account).
No adjustment is required in bank balance ( BANK STATEMENT). because no error is bank balance
please comment if you have any doubt
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TUULI (mmediatley below The accounts receivable time item. 6. When preparing a bank reconciliation, how would...
Exercise 6-9 Bank reconciliation and adjusting entries LO P3 A table for a monthly bank reconciliation dated September 30 is given below.
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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...
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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Exercise 8-11 Bank reconciliation and adjusting entries LO P3
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wme following would be added to the balance per bank on a bank reconciliation? 8. Which of the following would be a...
wme following would be added to the balance per bank on a bank reconciliation? 8. Which of the following would be added to the ba a. Outstanding checks b. Deposits in transit c. Notes collected by the bank d. Service charges 9. A check returned by the bank marked "NSF" means a. no service fee. b. no signature found c. not satisfactorily filled out. d. not sufficient funds. 10. Deposits in transit a. have been recorded on the company's books...
Select the location of each item that would be found on a bank reconciliation. Assume that the checks written by...
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Item Bank Balance Book Balance Sho Sh Rec 4 1. NSF check from a customer is...
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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...
Exercise 8-11 Bank reconciliation and adjusting entries LO P3A 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, and whether it should or should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.)Exercise 8-11 Bank reconciliation and...
wme following would be added to the balance per bank on a bank reconciliation? 8. Which of the following would be added to the ba a. Outstanding checks b. Deposits in transit c. Notes collected by the bank d. Service charges 9. A check returned by the bank marked "NSF" means a. no service fee. b. no signature found c. not satisfactorily filled out. d. not sufficient funds. 10. Deposits in transit a. have been recorded on the company's books...
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