Question
Marigold Corp. is preparing a bank reconciliation and has identified the following potential reconciling items. For each item, indicate if it is added to the
Marigold Corp. is preparing a bank reconciliation and has identified the following potential reconciling items. For each item, indicate if it is added to the balance per bank statement, deducted from the balance per bank statement, added to the balance per books, deducted from the balance per books, or not needed for the reconciliation.
1. | Deposit in transit of $5,600. | select an option Added to the balance per bank statement Added to the balance per books deducted from the balance per bank statement deducted from the balance per books Not needed for the reconciliation | ||
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2. | Previous months outstanding cheque for $290 cleared the bank in the current month. | select an option | ||
3. | Interest credited by the bank to Jaguars account of $33. | select an option | ||
4. | Bank service charges of $19. | select an option | ||
5. | A deposit in transit from previous month of $860 shown by bank as deposit of current month. | select an option | ||
6. | Outstanding cheques of $7,500. | select an option | ||
7. | NSF cheque returned of $250, and related service charge of $20. |
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