Indicate what effect (#1 4) each situation (#a f) will have on the bank reconciliation
Question:
1. Add to bank balance.
2. Deduct from bank balance.
3. Add to checkbook balance.
4. Deduct from checkbook balance.
_____ a. Check no. 150 was outstanding for $120.
_____ b. $200 deposit in transit.
_____ c. $155 NSF check.
_____ d. A check written for $15 was recorded in the company’s books as $25.
_____ e. Bank collected a $1,000 note less a $50 collection fee.
_____ f. $12 bank service charge.
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2 a Check no 150 was outstanding for 120 1 b 200 ...View the full answer
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