Question

oto 6. (10 points) Using the code reconciliation code letters below, indicate how each of the items listed would be handed in preparing liation. Enter the appropriate code letter in the space to the left of each item Code A B C D E Add to cash balance per books Deduct from cash balance per books Add to cash balance per bank Deduct from cash balance per bank Does not affect the bank reconciliation Items: The bank statement included a debit memorandum for $22.00 for bank service charge 2. The daily deposits of March 30 and March 31 for $3.362 and 53.125, respectively, were not included in the bank statement postings 3. Check for $420 correctly written and paid by the bank but incorrectly entered in the cash payments journal for $240. A Four checks, #8712, W8716, W8718, #8719. totaling $5.369.65, did not clear the bank during March 5. Bank returns deposited check marked NSF. 6. Bank collects notes receivable and interest for depositor. 7. Bank debit memorandum for check printing fees. 8. Bank charged a check against the company which should have been charged to another company. 9. Petty cash custodian has $91 in paid petty cash vouchers that have not been reimbursed. 10. A check for $286 was correctly paid by the bank but was incorrectly entered in the cash payments journal for $268.

Answer 1

1	B
2	C
3	B
4	D
5	B
6	A
7	B
8	C
9	E
10	B

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