Question

a $1,000 note from one of your customers was collected by the bank interest revenue earned...

a $1,000 note from one of your customers was collected by the bank interest revenue earned by the note above EFT deposit from a customer deposit in transit outstanding checks NSF check bank service charge charges for some other company’s safe deposit box were posted to your account 1. added to the company’s books 2. bubtracted from the company’s books 3. added to the bank statement balance 4. subtracted from the bank statement balance

Homework Answers

Answer #1

a $1,000 note from one of your customers was collected by the bank-----added to the company books

interest revenue earned by the note above--------added to the company books

EFT deposit from a customer--------------added to the company books

deposit in transit - - - - - - - - - - added to bank statement balance

Outstanding checks - - - - - - - subtracted from the bank statement balance

NSF check-------- subtracted from the bank statement balance

Bank service Charge - - - - - subtracted from the bank statement balance

charges for some other company’s safe deposit box were posted to your account - - - - - - - added to the bank statement balance

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Indicate how each of the following situations would be handled when preparing a bank reconcilation. a....
Indicate how each of the following situations would be handled when preparing a bank reconcilation. a. is added to the book balance b. is subtracted from the book balance c. is added to the bank statement balance d. is subtracted from the bank statement balance ,,,,,,, A deposit in transit in the amount of $2,000 ,,,,,,,An NSF check from a customer ,,,,,,,,A bank error where a $500 deposit made by another bank customer was posted to your company's account by...
GENERAL LEDGER—COOKIE CREATIONS Cash Date Explanation Ref Debit Credit Balance 2020 June 1 Balance 2,657 1...
GENERAL LEDGER—COOKIE CREATIONS Cash Date Explanation Ref Debit Credit Balance 2020 June 1 Balance 2,657 1 750 3,407 3 Check #600 625 2,782 3 Check #601 95 2,687 8 Check #602 56 2,631 9 1,050 3,681 13 Check #603 425 3,256 20 155 3,411 28 Check #604 297 3,114 28 110 3,224 PREMIER BANK Statement of Account—Cookie Creations June 30, 2020 Date Explanation Checks and Other Debits Deposits Balance May 31 Balance 3,256 June 1 Deposit 750 4,006 6 Check...
Exercise 7-9 Don Wyatt is unable to reconcile the bank balance at January 31. Don’s reconciliation...
Exercise 7-9 Don Wyatt is unable to reconcile the bank balance at January 31. Don’s reconciliation is as follows. Cash balance per bank $3,760.20 Add: NSF check 590.00 Less: Bank service charge 30.00 Adjusted balance per bank $4,320.20 Cash balance per books $4,075.20 Less: Deposits in transit 630.00 Add: Outstanding checks 935.00 Adjusted balance per books $4,380.20 Prepare a correct bank reconciliation. (List items that increase cash balance first. Reconcile cash balance per bank first. Round answers to 2 decimal...
4. The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30. After...
4. The bank statement for Allen Co. indicates a balance of $8,000.00 on June 30. After the books for June have been adjusted, the cash account balance had a balance of $3,675.00. Prepare the bank reconciliation on the basis of the following information: Cash Receipts of $342 had been recorded on the books as $324, Deposits in transit not record by the bank, $500 Bank service charges, $25 Note collected by the bank and not yet notified to the company,$3,250...
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following...
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30 $ 5,725 Deposits in transit at month-end $ 2,000 Outstanding checks at month-end $ 620 Bank service charges $ 35 EFT automatically deducted monthly, not yet recorded by Maxi $ 580 An NSF check returned on a customer account $ 365 The adjusted cash balance per the books on January 31 is:
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following...
In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information: Cash balance per company books on January 30 $ 7,025 Deposits in transit at month-end $ 2,260 Outstanding checks at month-end $ 750 Bank service charges $ 48 EFT automatically deducted monthly, not yet recorded by Maxi $ 840 An NSF check returned on a customer account $ 495 The adjusted cash balance per the books on January 31 is:
The September 30 bank statement for Cadieux Company and the September ledger account for cash are...
The September 30 bank statement for Cadieux Company and the September ledger account for cash are summarized here: BANK STATEMENT Checks Deposits Other Balance   Balance, September 1 $ 2,060   September 7 NSF check $ 100 1,960   September 11 $ 3,090 5,050   September 12 #101 $ 830 4,220   September 17 #102 1,760 2,460   September 26 #103 2,330 130   September 29 EFT deposit 165 295   September 30 Service charge   20 275 Cash (A)   Sep 1      Balance 2,060     Sep 10 3,090   830             ...
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following...
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information: Cash balance per company books on April 30 $ 6,250 Deposits in transit at month-end $ 1,350 Outstanding checks at month-end $ 670 Bank charge for printing new checks $ 70 Note receivable and interest collected by bank on Donahue’s behalf $ 720 A check paid to Donahue during the month by a customer is returned by the bank as NSF $ 530...
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following...
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information: Cash balance per company books on April 30 $ 6,250 Deposits in transit at month-end $ 1,350 Outstanding checks at month-end $ 670 Bank charge for printing new checks $ 70 Note receivable and interest collected by bank on Donahue’s behalf $ 720 A check paid to Donahue during the month by a customer is returned by the bank as NSF $ 530...
The following information is available to assist you in preparing a bank reconciliation for Racine Rentals...
The following information is available to assist you in preparing a bank reconciliation for Racine Rentals on March 31: The balance on the March 31 bank statement is $6,506.10. Not included on the bank statement is a $423 deposit made by Racine's late on March 31. A comparison between the canceled checks listed on the bank statement and the company records indicated that the following checks are outstanding at March 31: No. 112 $42.92 No. 117 307.00 No. 120 10.58...