Homework Help is Here – Start Your Trial Now!
Business
Accounting
BANK RECONCILIATION PROCEDURES In a format similar to the following, ind cate whether the action at the left will result in an addition to (+) or subtraction fro (-) the ending bank balance or the ending book balance. Ending Bank Balance Ending Book Balance 1. Deposits in transit to the bank 2. Error in checkbook: check recorded as $32 but was actually for $23 3. Service fee charged by the bank 4. Outstanding checks 5. NSF check deposited earlier 6. Error in checkbook: check recorded as $22 but was actually for $220 7. Bank credit memo advising a note was collected for us

BANK RECONCILIATION PROCEDURES In a format similar to the following, ind cate whether the action at the left will result in an addition to (+) or subtraction fro (-) the ending bank balance or the ending book balance. Ending Bank Balance Ending Book Balance 1. Deposits in transit to the bank 2. Error in checkbook: check recorded as $32 but was actually for $23 3. Service fee charged by the bank 4. Outstanding checks 5. NSF check deposited earlier 6. Error in checkbook: check recorded as $22 but was actually for $220 7. Bank credit memo advising a note was collected for us

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

7-4 A

BANK RECONCILIATION PROCEDURES In a format similar to the following, ind cate whether the action at the left will result in an addition to (+) or subtraction fro (-) the ending bank balance or the ending book balance. E 7-4A (LO2) Ending Bank Ending Book Balance Balance 1. Deposits in transit to the bank 2. Error in checkbook: check recorded as $32 but was actually for $23 3. Service fee charged by the bank 4. Outstanding checks 5. NSF check deposited earlier 6. Error in checkbook: check recorded as $22 but was actually for $220 7. Bank credit memo advising a note was collected for us E 7-5A (LO2) PREPARE JOURNALENTDICO
Transcribed Image Text:BANK RECONCILIATION PROCEDURES In a format similar to the following, ind cate whether the action at the left will result in an addition to (+) or subtraction fro (-) the ending bank balance or the ending book balance. E 7-4A (LO2) Ending Bank Ending Book Balance Balance 1. Deposits in transit to the bank 2. Error in checkbook: check recorded as $32 but was actually for $23 3. Service fee charged by the bank 4. Outstanding checks 5. NSF check deposited earlier 6. Error in checkbook: check recorded as $22 but was actually for $220 7. Bank credit memo advising a note was collected for us E 7-5A (LO2) PREPARE JOURNALENTDICO
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Tax loss carryovers
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
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS