Which one of the following procedures is not part of preparing a bank reconciliation of a...
Which one of the following procedures is not part of preparing a bank reconciliation of a checking account?
a. Tracing deposits listed on the bank statement to the books to identify deposits in transit
b. Arranging canceled checks in numerical order and tracing them to the books to identify outstanding checks
c. Identifying items added on the bank statement which have not been recorded as cash receipts by the company
d. Preparing adjustments to reverse the transactions recorded for checks that are still outstanding
Homework Answers
The following procedures is not part of preparing a bank reconciliation of a checking account:-
d. Preparing adjustments to reverse the transactions recorded for checks that are still outstanding
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what is part c?
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Bank Reconciliation Components Identify the requested amount in each of the following situations: a. Munster Company's May 31 bank reconciliation shows deposits in transit of $1,400. The general ledger Cash in Bank account shows total cash receipts during June of $55,600. The June bank statement shows total cash deposits of $54,300 (and no credit memos). What amount of deposits in transit should appear in the June 30 bank reconciliation? b. Sanders Company's August 31...
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