The following items may appear on a bank statement: 1. Bank correction of an error from recording
Question:
1. Bank correction of an error from recording a $6,200 deposit as $2,600
2. EFT payment
3. Note collected for company
4. Service charge
Using the following format, indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company's account:
Transcribed Image Text:
Appears on the Bank Statement as a Debit or Credit Memo Increases or Decreases the Balance of the Company's Bank Account Item No.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
Item No Appears on the Bank Statement as a D...View the full answer
Answered By
Sumit kumar
Education details:
QUATERNARY Pursuing M.Tech.(2017-2019) in Electronics and Communication Engg. (VLSI DESIGN) from
GNIOT Greater Noida
TERTIARY B.Tech. (2012-2016) in Electronics and Communication Engg. from GLBITM Greater Noida
SECONDARY Senior Secondary School Examination (Class XII) in 2012 from R.S.S.Inter College, Noida
ELEMENTARY Secondary School Examination (Class X) in 2010 from New R.J.C. Public School ,Noida
CERTIFICATION
Summer Training in ‘WIRELESS EMBEDDED SYSTEM’ from ‘XIONEE’ for the six weeks.
EMBEDDED SYSTEM Certificate issued by CETPA INFOTECH for one day workshop.
Certificate of Faculty development program on OPTICAL COMMUNICATION and NETWORKS for one week.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-1305088436
14th edition
Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac
Question Posted:
Students also viewed these Accounting questions
-
The following items may appear on a ban statement: 1. EFT payment 2. Note collected for company 3. Bank correction of an error from recording a $7,200 deposit as $2,700 4. Service charge using the...
-
The following items may appear on a ban statement: 1. NSF check 2. Bank correction of an error from posting another customers check to the companys account 3. Loan proceeds 4. EFT deposit Using the...
-
The following items may appear on a bank statement: 1. Bank correction of an error from posting another customer's check to the company's account 2. EFT deposit 3. Loan proceeds 4. NSF check Using...
-
7 8 0 The following data is provided for the Piedmont Corporation. All costs are actual costs. Complete the cost flows diagram attached to this problem and calculate CGM and CGS. Prepare journal...
-
Venable Corporation has 750,000 shares of common stock outstanding, which are owned by 640 shareholders. The assets of Venable Corporation are valued at more than $10 million. In March, Underhill...
-
An Equality and Human Rights Commission (EHRC) Report has highlighted the tensions that British fathers experience in attempting to balance work and family. It touches on the lack of confidence of...
-
Which of the following is false? a. Including some nonmonetary measures of performance in a budget is not likely to be advantageous b. If a key aspect of a company's success is high quality,...
-
On October 1, White Way Stores Inc. is considering leasing a building and purchasing the necessary equipment to operate a retail store. Alternatively, the company could use the funds to invest in $...
-
Carefully read the following. It is one (1) year since the strategic plan was implemented and, as the Operations Manager, you are reviewing the performance of the business against the performance...
-
Hospital Supply, Inc., produced hydraulic hoists that were used by hospitals to move bedridden patients. The costs of manufacturing and marketing hydraulic hoists at the company's normal volume of...
-
Identify each of the following as relating to (a) The control environment, (b) Control procedures, or (c) Information and communication: 1. Organizational structure 2. Report of company's conformity...
-
The following data were gathered to use in reconciling the bank account of Eves Company: Balance per bank ............................... $9,350 Balance per company records .................. 8,510...
-
Calculate the value of the average heat transfer coefficient for the plate of Problem 7.21 when the entire plate is rotated 90 so that half of the leading edge consists of a very smooth portion (A)...
-
The weight of bags of green landscaping gravel, X, is modeled by normal distribution with a mean 26.7 kilograms and standard deviation 0.3 kilogram. Determine the probability that a randomly selected...
-
Why do you think U.S. workers often do not take all of their allotted vacation time, even if they may lose the benefit? Are these personal choices, or are they driven more by society, or by...
-
Why should society care, or not care about how Canadian organizations such as SNC Lavalin conduct business (bribery) beyond their home borders? Explain your position thoroughly. Provide resource...
-
A database model shows a logical structure of a database which includes showing relationship and data constraints between one or more tables. A data model can generate a physical database. What are...
-
What are some challenges of making risk - and quality - management decisions? Explain your answer. Which challenge do you believe is the most difficult to overcome? Why?
-
Which consideration is focused on the selection of equipment and services for a project? a. Staffing b. Organizational feasibility c. Procurement d. Scope
-
Access the Federation of Tax Administrators Internet site at www. taxadmin.org/state-tax-forms and indicate the titles of the following state tax forms and publications: a. Minnesota Form M-100 b....
-
Data for Mazor Company are presented in P12-3A. Instructions Prepare the operating activities section of the statement of cash flows using the direct method.
-
Retzlaff Company's income statement contained the condensed information below. Retzlaff's balance sheet contained the comparative data at December 31. Accounts payable pertain to operating...
-
Data for Retzlaff Company are presented in P12-5A. Instructions Prepare the operating activities section of the statement of cash flows using the direct method.
-
costs are costs of manufacturing two or more products that are not separately identifiable as individual products until their split-off point. OA. Joint B. Separable C. Incremental D. Sunk
-
the result in psychological process that arouses interest in doing something, and it directs, and guides behavior is
-
A crucial difference between experiential learning and traditional lecture approach is that it is only in: a. Traditional lecture approach that the learner decides what aspect of the material to...
Study smarter with the SolutionInn App