For each of the items in the following list, identify where it is included on a...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
For each of the items in the following list, identify where it is included on a bank reconciliation: 1. EFT payment made by a customer 2. Bank debit memorandum for service charges Increase to bank balance Decrease to company cash balance Not included in the bank reconciliation 3. Outstanding cheques from the current month Increase to company cash balance Decrease to bank balance 4. Bank error in recording a $1,779 deposit as $1,977 5. Outstanding cheques from the previous month that are still outstanding 6. Outstanding cheques from the previous month that are no longer outstanding 7. Bank error in recording a company cheque made out for $160 as $610 8. Bank credit memorandum for interest revenue 9. Company error in recording a deposit of $160 as $1,600 10. Bank debit memorandum for a customer's NSF cheque 11. Deposit in transit from the current month 12. Company error in recording a cheque made out for $630 as $360 LINK TO TEXT For each of the items in the following list, identify where it is included on a bank reconciliation: 1. EFT payment made by a customer 2. Bank debit memorandum for service charges Increase to bank balance Decrease to company cash balance Not included in the bank reconciliation 3. Outstanding cheques from the current month Increase to company cash balance Decrease to bank balance 4. Bank error in recording a $1,779 deposit as $1,977 5. Outstanding cheques from the previous month that are still outstanding 6. Outstanding cheques from the previous month that are no longer outstanding 7. Bank error in recording a company cheque made out for $160 as $610 8. Bank credit memorandum for interest revenue 9. Company error in recording a deposit of $160 as $1,600 10. Bank debit memorandum for a customer's NSF cheque 11. Deposit in transit from the current month 12. Company error in recording a cheque made out for $630 as $360 LINK TO TEXT
Expert Answer:
Answer rating: 100% (QA)
1 A decrease in Bank Balance 2 A decrease in Cash Balance 3 A decrea... View the full answer
Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood
Posted Date:
Students also viewed these accounting questions
-
Each of the items in the following list must be accounted for in the bank reconciliation. Next to each item, enter the appropriate letter from the following possible treatments: (a) Bank side of...
-
For each of the items in the left-hand column, select the most appropriate item in the right-hand column. Explain the relationship between the items matched. a.NYSE Amex b.CBT c.NYSE d.Boston Stock...
-
For each of the items in exercise 17.2 state whether they would be measured (a) at fair value under IAS 41 or (b) at the lower of cost and net realisable value under IAS 2: 1. Living pigs 2. Living...
-
Torres Investments acquired $160,000 of Murphy Corp., 5% bonds at their face amount on October 1, Year 1. The bonds pay interest on October 1 and April 1. On April 1, Year 2, Torres sold $60,000 of...
-
From the dissociation constant of HNO3 at 25C in Box 8-1, find the percent dissociated in 0.100 M HNO3 and in 1.00 M HNO3.
-
Laurin Limited had 42,000 common shares outstanding on January 1, 2017. On March 1, 2017, Laurin issued 20,000 shares in exchange for equipment. On July 1, Laurin repurchased and cancelled 10,000...
-
The chapter provides sample goals for an initial sales call on a prospect. (a) What other goals can you come up with that might be appropriate for an initial sales call? (b) Develop three or four...
-
The following information is available for Bernard Corporation: Net income ................. $206,000 Decrease in accounts receivable ......... 4,900 Increase in inventory ............ 15,300...
-
HBR Reading: What makes a leader? (Emotional intelligence). Goleman. Harvard Business Review. January 2004: 1-11
-
Santana Rey created Business Solutions on October 1, 2020. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up...
-
Solve the equations Solve by hand. Show all your work. logs (2a + 1) +logs (r + 4) = log, 15
-
explain which of the promotional strategies used by diesel are above or below the line. analyse the impact that each approach might have.
-
One of the potential errors that could occur with the research for eHarmony is that people may simply want to answer the question irrespective of whether they are single and in the market for a new...
-
How to solve Taxation, types of taxation, how to count tax for ltd and self employed?
-
1. Why are formal plans generated? 2. Discuss why planning is beneficial. 3. Describe in detail the six-step strategic management process. 4. How would SWOT analysis strengthen the strategic...
-
1.How would the findings of the COURAGE study affect your strategy as an Ohio insurer? 2.What do you think of the Wall Street Journals concerns about the effectiveness of comparative effectiveness...
-
Assuming an emissivity, e = 0.85, and an area of approximately 5.3 m 2 , find the amount of thermal energy radiated by the body in 4 hr if the surface temperature is 15.0 0 C.
-
A Alkynes can be made by dehydrohalogenation of vinylic halides in a reaction that is essentially an E2 process. In studying the stereochemistry of this elimination, it was found that...
-
On January 1, 2015, SCI Marketing bought a company car for $20,000. It has estimated residual value of $2,000 and an estimated useful life of five years. The company uses double declining- balance...
-
The payroll records of Radii Video Productions Inc. provide the following information for the weekly pay period ended September 21: Tally Allard and George White work in the office, and Molly Dodge...
-
Describe the function of menus in a computerized accounting system.
-
Some people argue that the government should not intervene in the case of a market failure because the government itself is inefficient and will simply create new problems to replace the ones it is...
-
Consider each of the following issues and discuss whether you support Theory X, Theory Y, neither theory, or some combination of them. Issue Theory X Theory Y Whether a person is healthy or sick...
-
Looking at Medicaids traditional eligibility rules, you will notice numerous value/policy judgmentspregnant women and children are favored over childless adults, the medically needy are favored over...
Study smarter with the SolutionInn App