Question: Indicate whether the following items in a bank reconciliation should be (1) Added to the Cash account balance, (2) Deducted from the Cash account balance,

Indicate whether the following items in a bank reconciliation should be
(1) Added to the Cash account balance,
(2) Deducted from the Cash account balance,
(3) Added to the bank statement balance,
(4) Deducted from the bank statement balance.
a. NSF check
b. Deposit in transit
c. Outstanding check
d. Bank error charging the business’s account with another company’s check
e. Bank service charge

Step by Step Solution

★★★★★

3.42 Rating (171 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a 2 Deducted from the Cash account balance ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

339-B-A-P (398).docx

120 KBs Word File

Students Have Also Explored These Related Accounting Questions!

Indicate whether the following items are capitalized or expensed in the current year. (a) Purchase cost of a patent from a competitor. (b) Research costs. (c) Development costs (after achieving...

Indicate whether the following items create temporary or permanent differences. a. Book depreciation in excess of tax depreciation. b. Tax depreciation in excess of book depreciation. c. Increase in...

Indicate whether the following statement is coned, and explain your reasoning: "The best diversification vehicle is an asset with high volatility and low correlation with the portfolio."

Indicate whether the following items in a bank reconciliation should be (1) added to the Cash account balance, (2) deducted from the Cash account bal ance, (3) added to the bank statement balance, or...

Need help with these questions. Below are trial balances and financial statements. Need help with further as a 1. ABC Company, First month of operations sales 29,196-Cash 5,237-Unearned Revenue 2,400...

please help 2 10 DO 10 The following information is available for Park Valley Spa for July Yeart BANC STATE STATE BANK SOLYA VISTA, W 10001 Park Valley 5 10 Min Street ACCr 12-4567 Boite Vista 10001...

Provide expalanation and solution. Thank you Problem 3-4 (ACP) Problem Flamboyant Company prepared the following bank reconciliation on October 31: Cash in ban Cash account balance 960,006 Book...

Using the following information: (a) The bank statement balance is $3,083. (b) (d) The cash account balance is $3,100. Outstanding checks amounted to $765. Deposits in transit are $700. The bank...

Flamboyant Company prepared the following bank reconciliation on October 31: 990,000 5,000 45,000 Cash account balance Less : Bank service charge Deposit outstanding Check erroneously charged by bank...

On January 1, 2014, Babson, Inc., leased two automobiles for executive use. The lease requires Babson to make five annual payments of $13,000, beginning January 1, 2014. At the end of the lease term...

One of the most widespread and reliable forms of COVID-19 testing is called Real-time polymerase chain reaction or RT-PCR, which analyzes samples from inside the nose to assess the current presence...

Exercise 3.6 In this exercise we will look at a couple of other ways to improve the performance of multiplication, based primarily on doing more shifts and fewer arithmetic operations. The following...

What is meant by the term cost of capital?

Company A has fixed expenses of $15,000 per year and each unit of product has a $0.002 variable cost. Company B has fixed expenses of $5000 per year and can produce the same product at a $0.05...

A firm believes the sales volume (S) of its product depends on its unit selling price (P) and can be determined from the equation P = $100 - S. The cost (C) of producing the product is $1000 + lOS....

Consider the situation of owning rental properties that local university students rent from you on an academic year basis. Develop a set of costs that you could classify as recurring and others that...

central repository where risks and risk treatments are stored and regularly reviewed

PLEASE HELP A B C D E F G H WEIGHT HEIGHT SUMMARY OUTPUT 2 3 Regression Statistics Multiple R 0.742976642 R Square 0.421846992 Adjusted R Square -0.097968309 Standard Error 2 752253622 Observations...

Use the following information to answer the next six questions: An office supply store must determine the best inventory policy for ordering boxes of copier paper. Annual demand is nearly constant at...