The following information is available for Hapley Company: * The November 30 bank statement shows a ($1,895)
Question:
The following information is available for Hapley Company:
* The November 30 bank statement shows a \($1,895\) balance.
* The general ledger shows a \($1,742\) balance at November 30.
* A \($795\) deposit placed in the bank’s night depository on November 30 does not appear on the November 30 bank statement.
* Outstanding checks amount to \($638\) at November 30.
* A customer’s \($335\) note was collected by the bank in November. A collection fee of \($15\) was deducted by the bank and the difference deposited in Hapley’s account.
* A bank service charge of \($10\) is deducted by the bank and appears on the November 30 bank statement.
How will the customer’s note appear on Hapley’s November 30 bank reconciliation?
a. \($320\) appears as an addition to the book balance of cash.
b. \($320\) appears as a deduction from the book balance of cash.
¢. \($320\) appears as an addition to the bank balance of cash.
d. \($320\) appears as a deduction from the bank balance of cash.
e. \($335\) appears as an addition to the bank balance of cash.
Step by Step Answer:
College Accounting Ch 1-14
ISBN: 9781260904314
1st Edition
Authors: John Wild, Vernon Richardson, Ken Shaw