Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be

image text in transcribed
A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) Item Bank Balance Debitor Book Balance Credit to Cash Account Show or Not Shown on Reconciliation 1. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT 2. The company hired a new treasure 3. Bank service charge for September is not yet recorded by the company 4. Check written against the company's account and cleared by the bank erroneously not recorded by the company's recordkeeper 5. Deposit made on September 5 and processed by the bank on September 6 6. Depoismailed to the bank on September 30 had not been recorded by the bank unt October 2 7 Night deposit made on September 30 after the bank closed Deposits in transit as of September 30 were not recorded by the bank until October 3 9. Interest was comed by the company on the cash ance it had with the bank. The company has not yet recorded this rest 10. Outstanding checks to suppliers sted at the end of September 11 A customer sent an NSF check in payment of the account. The company did not know was NSF they received the bank statement 12. The bank colected at receivable on September 29. The company has not yet recorded the

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hotel And Restaurant Accounting

Authors: Cole Raymond

8th Edition

0866125531, 9780866125536

More Books

Students also viewed these Accounting questions

Question

BPR always involves automation. Group of answer choices True False

Answered: 1 week ago

Question

OUTCOME 3 Outline the methods by which firms recruit externally.

Answered: 1 week ago

Question

OUTCOME 2 Outline the methods by which firms recruit internally.

Answered: 1 week ago