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
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
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