I need help A bank does not issue a debit memorandum to notify the depositor of which of thefollowing?a) Periodic payments arranged in advance by a depositor.b) A deposit to their account.c) All withdrawals through an ATM.d) A fee assessed to the depositor's account.e) An uncollectible check.

Step 1: Introduction to the Bank Reconciliation:In business and finance, bank reconciliation is a…

Answered: A bank does not issue a debit…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 3QY: Which of the following does not explain the differences between the bank statement balance and the...

See similar textbooks

Similar questions

Which of the following does not explain the differences between the bank statement balance and the customers cash balance? a. Deposit in transit b. Canceled checks c. An NSF check d. Errors e. Interest income
Which of the following will NOT require an adjusting entry when reconciling the bank statement? Interest earned Outstanding checks O NSF check from customer Bank service charges
Which will not require an adjusting entity on the depositor's books? a. Check in payment of accounts payable amounting to P100,000 is recorded by depositors as P10,000 b. Bank service charge c. NSF check from depositor d. Deposit of another entity is credited to the account of the depositor
I need the answer as soon as possible
True or False. 9. An NSF check is a reconciling item that does not require an adjusting entry in the books of the depositor.10. Adjusting journal entries are prepared based on the reconciling items on the bank side of the bank reconciliation.11. A bank statement is prepared by the depositor to reconcile the difference between his records and bank records.
Which of the following statements is correct? a.Outstanding checks are checks not yet issued by the depositor to the payee and not yet reflected on the bank statement. b.Certified checks should be deducted from the total outstanding checks c.If the check contains a conflict between amount in words and amount in figures, it is usually accept by the bank provided, the depositor promises to correct it later within the day. d.In DAIF, the depositor has, on its face, sufficient funds in his account, although it is not available yet at the time the check was drawn, whereas in DAUD, the depositor lacks sufficient funds in his account to pay the check.
The process of determining any differences between a bank statement balance and a checkbook balance is known as _______________. Calculating bank service charge Calculating outstanding deposits Reconciling the bank statement Issuing a stop payment order
Which of the following is supported with a debit memorandum? a.proceeds of bank loan b.collections already forwarded to the bank for deposit but too late to appear in the bank statement c.matured time deposits transferred by bank to the current account d.notes receivable collected by the bank in favor of the depositor e.charges for penalty
What is Bank Overdraft? 1. A document used by a company's accounts payable department containing the supporting documents for an invoice. 2. A negotiable instrument where payment is guaranteed by the issuing bank. 3. A negotiable instrument similar to a bill of exchange. 4. A line of credit that covers your transactions if your bank account balance drops below zero.
A check returned by a bank because the issuer’s cash account balance could not cover the check is called a(n) A. canceled check. B. certified check. C. NSF check. D. outstanding check.
If a check correctly written and paid by the bank for $744 is incorrectly recorded on the company's books for $743, the appropriate treatment on the bank reconciliation would be to Select one: on a. deduct $724 from the bank's balance. b. add $18 to the bank's balance, c. deduct $724 from the book's balance d. The answer does not exist e. add $18 to the book's balance. Previous page Next page IBA F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 PRTSC SYSRC F12 图 23 24 4 % * 2 6. V 8 HOME PGUP W Y ! ق i J K END PGDN V YNi INS B C. D. E.
True or False. 13. Deposit in transit is a reconciling item added to the unadjusted book balance.14. Outstanding check is a reconciling item deducted from the unadjusted bank balance.15. Adjusting journal entries are prepared based on the reconciling items on the bank side of the bank reconciliation.

SEE MORE QUESTIONS

Recommended textbooks for you

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Personal Finance

Finance

ISBN:

9781337669214

Author:

GARMAN

Publisher:

Cengage

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

SEE MORE TEXTBOOKS

A bank does not issue a debit memorandum to notify the depositor of which of the following? a) Periodic payments arranged in advance by a depositor. b) A deposit to their account. c) All withdrawals through an ATM. d) A fee assessed to the depositor's account. e) An uncollectible check.