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Please provide explanation for 7~10 in depth! Thanks~ hile preparing a bank reconciliation, an accountant discovered that a $327 check returned with the bank statement
Please provide explanation for 7~10 in depth! Thanks~ hile preparing a bank reconciliation, an accountant discovered that a $327 check returned with the bank statement had been recorded erroneously in the depositor's accounting records as $372. In preparing the bank reconciliation the appropriate action to correct this error would be to 7 W Add $45 to the balance per the depositor's records Deduct $45 from the balance per the depositor's records Add S45 to the balance per the bank statement Deduct $45 from the balance per the bank statement None of the above D. E. A. B. C. Enclosed with the bank statement received by Ted Products at August 31 was an NSF check for $327. No entry has yet been made by the company to reflect the hank's action in charging back the NSF check. During preparation of the bank reconciliation, the NSF check should be: A. B. C. Added to the balance per the depositor's records Deducted from the balance per the depositor's records Deducted from the balance per the bank statement D. Added to the balance per the bank statement E. None of the above An NSF check returned by the bank should be entered in the depositor's accounting records by a debit to: A. Accounts Payable B. Accounts Receivable C. An expense account D. Cash E. None of the above to. Cash sales nung up by cashiers totaled S54.300. Cash in the drawer was counted and found to be $$4.340. The journal entry to record the day's sales would include a: C. Credit to cash overnge for $40. D. Debit to sales revenue for $54,300 A. Debit to cash for $54.300 E. None of the above B. Credit to sales revenue for $54,340
Please provide explanation for 7~10 in depth! Thanks~
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