Question
For each of the items in the following list, identify where it is included on a bank reconciliation: 1. EFT payment made by a customer
For each of the items in the following list, identify where it is included on a bank reconciliation:
1. | EFT payment made by a customer | select an effect on bank reconciliation item Decrease to bank balanceNot included in the bank reconciliationIncrease to bank balanceDecrease to company cash balanceIncrease to company cash balance | ||
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2. | Bank debit memorandum for service charges | select an effect on bank reconciliation item Decrease to bank balanceNot included in the bank reconciliationDecrease to company cash balanceIncrease to company cash balanceIncrease to bank balance | ||
3. | Outstanding cheques from the current month | select an effect on bank reconciliation item Increase to company cash balanceDecrease to company cash balanceIncrease to bank balanceNot included in the bank reconciliationDecrease to bank balance | ||
4. | Bank error in recording a $1,779 deposit as $1,977 | select an effect on bank reconciliation item Increase to bank balanceIncrease to company cash balanceNot included in the bank reconciliationDecrease to bank balanceDecrease to company cash balance | ||
5. | Outstanding cheques from the previous month that are still outstanding | select an effect on bank reconciliation item Not included in the bank reconciliationIncrease to company cash balanceIncrease to bank balanceDecrease to bank balanceDecrease to company cash balance | ||
6. | Outstanding cheques from the previous month that are no longer outstanding | select an effect on bank reconciliation item Increase to company cash balanceDecrease to company cash balanceNot included in the bank reconciliationIncrease to bank balanceDecrease to bank balance | ||
7. | Bank error in recording a company cheque made out for $160 as $610 | select an effect on bank reconciliation item Increase to company cash balanceDecrease to bank balanceNot included in the bank reconciliationDecrease to company cash balanceIncrease to bank balance | ||
8. | Bank credit memorandum for interest revenue | select an effect on bank reconciliation item Decrease to bank balanceDecrease to company cash balanceIncrease to bank balanceIncrease to company cash balanceNot included in the bank reconciliation | ||
9. | Company error in recording a deposit of $160 as $1,600 | select an effect on bank reconciliation item Decrease to company cash balanceNot included in the bank reconciliationIncrease to company cash balanceDecrease to bank balanceIncrease to bank balance | ||
10. | Bank debit memorandum for a customers NSF cheque | select an effect on bank reconciliation item Increase to company cash balanceNot included in the bank reconciliationIncrease to bank balanceDecrease to company cash balanceDecrease to bank balance | ||
11. | Deposit in transit from the current month | select an effect on bank reconciliation item Increase to bank balanceDecrease to bank balanceNot included in the bank reconciliationDecrease to company cash balanceIncrease to company cash balance | ||
12. | Company error in recording a cheque made out for $630 was recorded as $360 | select an effect on bank reconciliation item Decrease to company cash balanceNot included in the bank reconciliationIncrease to company cash balanceDecrease to bank balanceIncrease to bank balance |
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