Question
The following reconciling items are applicable to the bank reconciliation for Ellington Company: (a) outstanding checks, (b) bank debit memorandum for service charge, (c) bank
The following reconciling items are applicable to the bank reconciliation for Ellington Company: (a) outstanding checks, (b) bank debit memorandum for service charge, (c) bank credit memorandum for collecting a note for the depositor, and (d) deposits in transit.
Indicate how each item should be shown on a bank reconciliation.
(a)Outstanding checks
Added to Cash Balance Per Books
Deducted from Cash Balance Per Books
Added to Cash Balance Per Bank
Deducted from Cash Balance Per Bank
(b)Bank service charge
Deducted from Cash Balance Per Books
Added to Cash Balance Per Books
Deducted from Cash Balance Per Bank
Added to Cash Balance Per Bank
(c)Collection of note by bank
Deducted from Cash Balance Per Bank
Added to Cash Balance Per Bank
Deducted from Cash Balance Per Books
Added to Cash Balance Per Books
(d)Deposits in transit
Added to Cash Balance Per Bank
Deducted from Cash Balance Per Books
Added to Cash Balance Per Books
Deducted from Cash Balance Per Bank
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Accounting Principles
Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt
IFRS global edition
1-119-41959-4, 470534796, 9780470534793, 9781119419594 , 978-1119419617
