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At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank First you collect the data from June 30th reconciliation as follows: Balance per Bank add: Deposits in Transit deduct: Outstanding Cheques Balance per Books Second you close your update your Cash and bank account with all transactions recorded before AJE and you have: Balance July 31 Deposits Cheques Balance July 31 Deposits Cheques Third you look at the bank statement provided by your bank and you see the following: Note collected Bank service charge NSF cheque Interest received Autowithdrawals Multiple Choice $12,000 $ 7,300 $ 4,800 Interest $200 Which of the following items have been added to the Cash and Bank account when doing the reconciliation? NSF Cheque 5150 $10,000 $ 1,800 $(2,200) $ 9,600 $12,430 $6,000 $ 4,000 $1,000 $ 20 $ 150 $ 200 $ 588 None of the other alternatives are correct Service Charges 520 pe

At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank First you collect the data from June 30th reconciliation as follows: Balance per Bank add: Deposits in Transit deduct: Outstanding Cheques Balance per Books Second you close your update your Cash and bank account with all transactions recorded before AJE and you have: Balance July 31 Deposits Cheques Balance July 31 Deposits Cheques Third you look at the bank statement provided by your bank and you see the following: Note collected Bank service charge NSF cheque Interest received Autowithdrawals Multiple Choice $12,000 $ 7,300 $ 4,800 Interest $200 Which of the following items have been added to the Cash and Bank account when doing the reconciliation? NSF Cheque 5150 $10,000 $ 1,800 $(2,200) $ 9,600 $12,430 $6,000 $ 4,000 $1,000 $ 20 $ 150 $ 200 $ 588 None of the other alternatives are correct Service Charges 520 pe

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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At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank reconciliation must be performed. First you collect the data from June 30th reconciliation as follows: Balance per Bank add: Deposits in Transit deduct: Outstanding Cheques Balance per Books. Second you close your update your Cash and bank account with all transactions recorded before AJE and you have: Balance July 31 Deposits Cheques Balance July 31 Deposits Cheques Third you look at the bank statement provided by your bank and you see the following: Note collected Bank service charge NSF cheque Interest received Autowithdrawals Multiple Choice O C $12,000 $ 7,300 $ 4,800 Which of the following items have been added to the Cash and Bank account when doing the reconciliation? Interest $200 NSF Cheque $150 $12,430 $6,000 $ 4,000 $1,000 Service Charges 520 Autowiltrarews 5300 $10,000 $ 1,800 $(2,200) $ 9,600 $ $ $ $ None of the other alternatives are correct 20 150 200 508
Transcribed Image Text:At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank reconciliation must be performed. First you collect the data from June 30th reconciliation as follows: Balance per Bank add: Deposits in Transit deduct: Outstanding Cheques Balance per Books. Second you close your update your Cash and bank account with all transactions recorded before AJE and you have: Balance July 31 Deposits Cheques Balance July 31 Deposits Cheques Third you look at the bank statement provided by your bank and you see the following: Note collected Bank service charge NSF cheque Interest received Autowithdrawals Multiple Choice O C $12,000 $ 7,300 $ 4,800 Which of the following items have been added to the Cash and Bank account when doing the reconciliation? Interest $200 NSF Cheque $150 $12,430 $6,000 $ 4,000 $1,000 Service Charges 520 Autowiltrarews 5300 $10,000 $ 1,800 $(2,200) $ 9,600 $ $ $ $ None of the other alternatives are correct 20 150 200 508
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