Question
For each of the following errors, describe to a recently hired bookkeeper how it would be shown on cash reconciliation: The bank recorded a
For each of the following errors, describe to a recently hired bookkeeper how it would be shown on cash reconciliation:
• The bank recorded a deposit of $200 as $2,000.
• The company's bookkeeper mistakenly recorded a deposit of $530 as $350.
• The company's bookkeeper mistakenly recorded a payment of $250 received from a customer as $25 on the bank deposit slip. The bank caught the error and made the deposit for the correct amount.
• The bank statement shows a check written by the company for $255 was erroneously paid (cleared the account) as $225.
• The bookkeeper wrote a check for $369 but erroneously wrote down $396 as the cash disbursement on the company's records.
Step by Step Solution
3.51 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
The first transaction will reduce the bank balance by 1800 as the amount would have been credited by ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App