Please provide explanation on each items. Thank You!

e City g with Problwm 2-20 Multiple choice (LAA) y bank 1. A bank reconciliation is a. A financial statement that lists all of the bank account 60,000 balances of an entity. 00,000 b. A merger of two banks that previously were competitors. 10,000 c. A statement sent by the bank to depositor on a monthly 30,000 basis. 20,000 d. A schedule that accounts for the differences between 00,000 cash balance shown on the bank statement and the cash balance shown on the general ledger. ritten check 2. Which of the following items must be added to the cash balance per ledger in preparing a bank reconciliation which corded ends with adjusted cash balance? a. Note receivable collected by bank in favor of the depositor and credited to the account of the depositor 0,000 b. NSF customer check nk as c. Service charge d. Erroneous bank debit 3. Which of the following would be added to the balance per bank statement to arrive at the correct cash balance? a. Outstanding check b. Bank service charge c. Deposit in transit ak on d. A customer note collected by the bank on behalf of the depositor 4. Which of the following must be deducted from the bank statement balance in preparing a bank reconciliation which ends with adjusted cash balance? a. Deposit in transit ly 31? b. Outstanding check . Reduction of loan charged to the account of the depositor d. Certified check5. If the balance shown in the bank statement is less than the correct cash balance and neither the entity nor the bank has made any errors, there must be . Deposits credited by the bank but not yet recorded by the depositor b. Outstanding checks c. Deposits in transit d. Bank charges not yet recorded by the depositor 6. If the cash balance shown in the accounting record is less than the correct cash balance and neither the entity nor the bank has made any errors, there must be a. Deposits credited by the bank but not yet recorded by the depositor ah higher than that top b. Deposits in transit Outstanding checks d. Bank charges not yet recorded by the depositor Here puter then t 7. Bank reconciliations are normally prepared on a monthly basis to identify adjustments needed in the depositor's records and to identify bank errors. Adjustments on the & The aunt amount report part of the depositor should be recorded for Bank errors, outstanding checks and deposits in transit. All items except bank errors, outstanding checks and deposits in transit. c. Book errors, bank errors, deposits in transit and outstanding checks. d. Outstanding checks and deposits in transit. 8. Bank statements provide information about all of the following, except a. Checks cleared during the period b. NSF checks c. Bank charges for the period d. Errors made by the depositorthe nk 9. Which statement in relation to a certified check is not true? a. A certified check is a liability of the bank certifying it. b. A certified check will be accepted by many persons who would not otherwise accept a personal check. c. A certified check is one drawn by a bank upon itself. d. A certified check should not be included in the outstanding checks. 10. Which statement in relation to bank reconciliation is true? a. Bank service charge will cause the cash balance per ledger to be higher than that reported by the bank, all other things being equal. b. Credit memos will cause the cash balance per ledger to be higher than that reported by the bank, all other things being equal c. Outstanding checks will cause the cash balance per ledger to be greater than the balance reported by the bank, all other things being equal. d. The cash amount reported in the statement of financial position must be the balance reported in the bank statement