A company is preparing its bank reconciliation and discovers the following items: (a) Outstanding checks (b) Deposits

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A company is preparing its bank reconciliation and discovers the following items:

(a) Outstanding checks

(b) Deposits in transit

(c) Deposits made directly by the bank

(d) Charges made directly by the bank

(e) The bank's erroneous underrecording of a deposit

(f) |The company’s erroneous underrecording of a check it wrote Required: Indicate how each of these items would be used to adjust (1) the company’s cash balance or (2) the bank balance to calculate the reconciled cash balance. TK-1

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Accounting Information For Business Decisions

ISBN: 9780030224294

1st Edition

Authors: Billie Cunningham, Loren A. Nikolai, John Bazley

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Question Posted: Jul 01, 2024 12:00 PM

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A company is preparing its bank reconciliation and discovers the following items: (a) Outstanding checks (b) Deposits

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Accounting Information For Business Decisions

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