14) If a check correctly written and paid by the bank for ¥4,910 is incorrectly recorded on the company's books for ¥4,190, the appropriate treatment on the bank reconciliation would be to a. add ¥720 to the book's balance. b. subtract ¥720 from the book's balance. c. deduct ¥720 from the bank's balance. d. deduct ¥4,910 from the book's balance.
14) If a check correctly written and paid by the bank for ¥4,910 is incorrectly recorded on the company's books for ¥4,190, the appropriate treatment on the bank reconciliation would be to a. add ¥720 to the book's balance. b. subtract ¥720 from the book's balance. c. deduct ¥720 from the bank's balance. d. deduct ¥4,910 from the book's balance.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please answer question 14
![13) Osborn Company assembled the following information in completing its March bank
reconciliation: balance per bank $3,820; outstanding checks $775; deposits in transit $1,250;
NSF check $80; bank service charge $25; cash balance per books $4,400. As a result of this
reconciliation, Osborn will
a. reduce its cash account by $475.
b. reduce its cash account by $25.
c. increase its cash account by $55.
d. reduce its cash account by $105.
14) If a check correctly written and paid by the bank for ¥4,910 is incorrectly recorded on the
company's books for ¥4,190, the appropriate treatment on the bank reconciliation would be to
a. add ¥720 to the book's balance.
b. subtract ¥720 from the book's balance.
c. deduct ¥720 from the bank's balance.
d. deduct ¥4,910 from the book's balance.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe2d57658-58db-47fb-9746-f212ecf76037%2F8bafe334-ac90-463d-a293-80bfed586ee9%2Ffntp65o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:13) Osborn Company assembled the following information in completing its March bank
reconciliation: balance per bank $3,820; outstanding checks $775; deposits in transit $1,250;
NSF check $80; bank service charge $25; cash balance per books $4,400. As a result of this
reconciliation, Osborn will
a. reduce its cash account by $475.
b. reduce its cash account by $25.
c. increase its cash account by $55.
d. reduce its cash account by $105.
14) If a check correctly written and paid by the bank for ¥4,910 is incorrectly recorded on the
company's books for ¥4,190, the appropriate treatment on the bank reconciliation would be to
a. add ¥720 to the book's balance.
b. subtract ¥720 from the book's balance.
c. deduct ¥720 from the bank's balance.
d. deduct ¥4,910 from the book's balance.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education