(Learning Objective 3: Classifying bank reconciliation items) The following items appear on a bank reconciliation: 1. ___...
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(Learning Objective 3: Classifying bank reconciliation items) The following items appear on a bank reconciliation:
1. ___ Outstanding cheques 2. ___ Bank error: The bank credited our account for a deposit made by another bank customer.
3. ___ Service charge 4. ___ Deposits in transit 5. ___ NSF cheque 6. ___ Bank collection of a note receivable on our behalf 7. ___ Book error: We debited Cash for $200. The correct debit was $2,000.
Classify each item as
(a) an addition to the bank balance,
(b) a subtraction from the bank balance,
(c) an addition to the book balance, or
(d) a subtraction from the book balance.
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Related Book For
Financial Accounting International Financial Reporting Standards
ISBN: 9780273777809
1st Global Edition
Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy
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