If a check correctly written and paid by the bank for $118 is incorrectly recorded in...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
If a check correctly written and paid by the bank for $118 is incorrectly recorded in the company's books for $181, how should this error be treated on the bank reconciliation? Subtract $63 from the book balance. Add $63 to the bank's balance. Add $63 to the book balance. Subtract $63 from the bank's balance. Subtract $63 from the bank's balance and add $45 to the book's bolance. If a check correctly written and paid by the bank for $118 is incorrectly recorded in the company's books for $181, how should this error be treated on the bank reconciliation? Subtract $63 from the book balance. Add $63 to the bank's balance. Add $63 to the book balance. Subtract $63 from the bank's balance. Subtract $63 from the bank's balance and add $45 to the book's bolance.
Expert Answer:
Answer rating: 100% (QA)
Answer The correct option is A i Bank Reconciliation is the process of reconciling of matchi... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
Students also viewed these accounting questions
-
If a check correctly written and paid by the bank for $428 is incorrectly recorded on the companys books for $482, the appropriate treatment on the bank reconciliation would be to to the balance.
-
If a check correctly written and paid by the bank for $ 648 is incorrectly recorded on the company's books for $ 684 , the appropriate treatment on the bank reconciliation would be to deduct $ 36...
-
If a check correctly written and paid by the bank for $ 581 is incorrectly recorded on the companys books for $ 518 , the appropriate treatment on the bank reconciliation would be to add $ 63 to the...
-
What is the time value of money? Including present and future value. How would a financial expert interpret it?
-
Part 1 Even after the recent public experiment about cereal box weights, Consumers Concerned About Cereal Cheaters (CCACC) remains convinced that Oxford Cereals has misled the public. The group has...
-
Consider the following contingency table, which records the results obtained for four samples of fixed sizes selected from four populations. a. Write the null and alternative hypotheses for a test of...
-
Understand and describe common medical errors and how they lead to litigation.
-
Instantaneous Power in a Standing Wave. From Eq. (15.21), the instantaneous rate at which a wave transmits energy along a string (instantaneous power) is Where F is the tension. (a) Evaluate f (x, t}...
-
Why would Qantas international (not domestic) have a underlying earnings before interest and tax (EBIT) of $-238,000,000
-
On January 1. Ruiz Company issued bonds as follows: Face Value: Number of Years: Stated Interest Rate: Interest payments per year 500,000 15 7% Required: 1) Calculate the bond selling price given the...
-
Q2. A resistor is connected in series with a capacitor to form the RC circuit shown below. R switch C The resistor has a resistance of 50 kn. The current is measured for the time t after the switch...
-
In the United States, Canada, and Australia, the end of World War II marked the beginning of a sustained period of elevated birth rates per thousand in the population. This rise reflected the relief...
-
Discusses the current and future uses of blockchain to process transactions and store data. Research the use of blockchain and find a noncryptocurrency company that is currently using it. Also...
-
The analysis technique of BPA, BPI, or BPR is selected on the basis of several characteristics of the project. What are these characteristics and how do they influence the choice of analysis...
-
How would the following ERD be changed to incorporate the design decision listed next? The analyst wants to keep track of the user ID of anyone who changes a grade for a course. A data store is...
-
For some sample real - time systems discuss which operating system architecture is most appropriate. (a) Inertial measurement system. (b) Nuclear monitoring system. (c) Airline reservations system....
-
1.what is the unit product cost under variable costing?2.what is the unit product cost under absorptioncosting?3.what is the companys total contribution margin undervariable costing?4.what is...
-
A copper rod of length L =18.0 in is to be twisted by torques T (see figure) until the angle of rotation between the ends of the rod is 3.08. (a) If the allowable shear strain in the copper is 0.0006...
-
Using the information in E18-7 and assuming that the implicit rate for thelessor is 7%, prepare the journal entries for 2016 and 2017 for Pollet Products. Pollet Products year end is December 31. In...
-
Exhibit 16 A. 4 presents a decision tree for impairments of investing assets under IFRS. Please detail the decisions and judgments that you must make when determining whether an investing asset has...
-
Hayford & Woodward, Inc. began business in January 2014. During 2014, it had credit sales of $ 29,000,000. As of December 31, 2014, it had the following balances in accounts receivable:...
-
Maribel Ortiz is puzzled. Her company had a profit margin of 10% in 2025. She feels that this is an indication that the company is doing well. Gordon Liddy, her accountant, says that more information...
-
At December 31, 2025, the fair value of non-trading securities is 41,300 and the cost is 39,800. At January 1, 2025, there was a credit balance of 900 in the Fair Value Adjustment Non-Trading...
-
On January 1, 2025, Lennon Enterprises acquires 100% of Ono Ltd. for 220,000 in cash. The condensed statements of financial position of the two companies immediately following the acquisition are as...
Study smarter with the SolutionInn App