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these are the options Question 5 [15 points) Ludwig Inc. identified the following while preparing the bank reconciliation for the month just ended. Indicate whether

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Question 5 [15 points) Ludwig Inc. identified the following while preparing the bank reconciliation for the month just ended. Indicate whether each item would cause an increase ( + ), decrease ( - ), or has no effect (NE) on each of the components of the accounting equation. If a transaction causes a decrease in one component of the accounting equation and also an increase in the same component but in a different account, select ( +/-). Also indicate the net effect of the item on net income (NI). A = L + E NI a) A $9,510 cheque written by Ludwig Inc. for the payment of advertising was incorrectly recorded in the accounting records as $5,920. b) $178 note receivable collected by the bank less $4 for the bank performing the service c) Interest of $46 had been earned on Ludwig Inc.'s account balance and appeared on the bank statement d) A cash register recorded total service revenues of $800, however the count of cash in the register is $807 e) The petty cash payments report and all receipts are given to the company cashier in exchange for $206 A cash register recorded total service revenues of $200, however the count of cash in the rogister is $195. 9) The bank reconciliation revealed an NSF cheque in the amount of $292; the bank charged Ludwig Inc a $24 NSF fee as well h) Interest charge of $24 regarding Ludwig Inc.'s line of credit appeared on the bank statement, 1) The bank statement showed 7,180 regarding a loan payment consisting of $7,030 principal and $150 interest. D) A $1,060 cheque written by Ludwig Inc. for the purchase of equipment was incorrectly recorded in the accounting records as $1,050 k) The bank statement showed a $35 service charge. 1) The bank statement showed $1,500 made by the bank but not recorded in Ludwig Inc.'s accounting records The collections were regarding customer accounts. m) Ludwig Inc. received a personalized chequebook, the bank charged $70 for this service. n) A $7,240 deposit made by Ludwig Inc. regarding collections on customer accounts was incorrectly recorded in the accounting records as $8,240 0) A $239 cheque is drawn, cashed, and the proceeds given to the petty cashier A h NE + +/

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