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A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. Outstanding checks to suppliers existed at the end of September. 2. Bank service charge. 3. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 4. Night deposit made on September 30 after the bank closed. 5. Checks written and mailed to payees on October 2. 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Interest earned on the September cash balance in the bank is not yet recorded by the company. 8. Deposit made on September 5 and processed by the bank on September 6. 9. Checks written by another depositor but mistakenly charged against this company's account. 10. Bank service charge for September is not yet recorded by the company. 11. Checks outstanding on August 31 that cleared the bank in September. 12. A note receivable is collected by the bank for the company, but it is not yet recorded by the company. Bank Balance NA ΝΑ NA Book Balance Subtract NA NA Debit or Credit to Cash Account Credit ΝΑ NA Shown or Not Shown on Reconciliation Shown Not Shown Not Shown

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. Outstanding checks to suppliers existed at the end of September. 2. Bank service charge. 3. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 4. Night deposit made on September 30 after the bank closed. 5. Checks written and mailed to payees on October 2. 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Interest earned on the September cash balance in the bank is not yet recorded by the company. 8. Deposit made on September 5 and processed by the bank on September 6. 9. Checks written by another depositor but mistakenly charged against this company's account. 10. Bank service charge for September is not yet recorded by the company. 11. Checks outstanding on August 31 that cleared the bank in September. 12. A note receivable is collected by the bank for the company, but it is not yet recorded by the company. Bank Balance NA ΝΑ NA Book Balance Subtract NA NA Debit or Credit to Cash Account Credit ΝΑ NA Shown or Not Shown on Reconciliation Shown Not Shown Not Shown

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. Outstanding checks to suppliers existed at the end of September. 2. Bank service charge. 3. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 4. Night deposit made on September 30 after the bank closed. 5. Checks written and mailed to payees on October 2. 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Interest earned on the September cash balance in the bank is not yet recorded by the company. 8. Deposit made on September 5 and processed by the bank on September 6. 9. Checks written by another depositor but mistakenly charged against this company's account. 10. Bank service charge for September is not yet recorded by the company. 11. Checks outstanding on August 31 that cleared the bank in September. 12. A note receivable is collected by the bank for the company, but it is not yet recorded by the company. Bank Balance ΝΑ ΝΑ ΝΑ Debit or Book Balance Credit to Cash Account Subtract ΝΑ ΝΑ Credit ΝΑ ΝΑ Shown or Not Shown on Reconciliation Shown Not Shown Not Shown Check my work
Transcribed Image Text:A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. Outstanding checks to suppliers existed at the end of September. 2. Bank service charge. 3. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 4. Night deposit made on September 30 after the bank closed. 5. Checks written and mailed to payees on October 2. 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Interest earned on the September cash balance in the bank is not yet recorded by the company. 8. Deposit made on September 5 and processed by the bank on September 6. 9. Checks written by another depositor but mistakenly charged against this company's account. 10. Bank service charge for September is not yet recorded by the company. 11. Checks outstanding on August 31 that cleared the bank in September. 12. A note receivable is collected by the bank for the company, but it is not yet recorded by the company. Bank Balance ΝΑ ΝΑ ΝΑ Debit or Book Balance Credit to Cash Account Subtract ΝΑ ΝΑ Credit ΝΑ ΝΑ Shown or Not Shown on Reconciliation Shown Not Shown Not Shown Check my work
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