ble for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item uld be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. lect the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) Debit or Bank Balance Book Balance Credit to Cash Account Shown or Not Item Shown on Reconciliation NSF check from a customer is shown on the bank statement but not yet recorded by the company. NA Subtract Cr. Shown Checks written by another depositor but mistakenly charged against this company's account. Outstanding checks to suppliers existed at the end of September. Check written against the company's account and cleared by the bank eroneously not recorded by ne company's recordkeeper. Bank service charge for September is not yet recorded by the company. . The company made a month-end accrual for wages earned but not yet paid. 7. Checks outstanding on August 31 that cleared the bank in September. B. 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. 9. The company made a month-end accrual for expired insurance coverage. 10. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 11. The company had outstanding checks to employees on September 30. 12. The company hired a new treasurer. < Prev 2 of 23 Next > i......
ble for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item uld be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. lect the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) Debit or Bank Balance Book Balance Credit to Cash Account Shown or Not Item Shown on Reconciliation NSF check from a customer is shown on the bank statement but not yet recorded by the company. NA Subtract Cr. Shown Checks written by another depositor but mistakenly charged against this company's account. Outstanding checks to suppliers existed at the end of September. Check written against the company's account and cleared by the bank eroneously not recorded by ne company's recordkeeper. Bank service charge for September is not yet recorded by the company. . The company made a month-end accrual for wages earned but not yet paid. 7. Checks outstanding on August 31 that cleared the bank in September. B. 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. 9. The company made a month-end accrual for expired insurance coverage. 10. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 11. The company had outstanding checks to employees on September 30. 12. The company hired a new treasurer. < Prev 2 of 23 Next > i......
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
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.
(Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.)
Debit or
Shown or Not
Item
Bank Balance
Book Balance Credit to Cash
Shown on
Account
Reconciliation
1. NSF check from a customer is shown on the bank statement but not yet recorded by the company.
NA
Subtract
Cr.
Shown
2. Checks written by another depositor but mistakenly charged against this company's account.
3. Outstanding checks to suppliers existed at the end of September.
4. Check written against the company's account and cleared by the bank erroneously not recorded by
the company's recordkeeper.
5. Bank service charge for September is not yet recorded by the company.
6. The company made a month-end accrual for wages earned but not yet paid.
7. Checks outstanding on August 31 that cleared the bank in September.
8. 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.
9. The company made a month-end accrual for expired insurance coverage.
10. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2.
11. The company had outstanding checks to employees on September 30.
12. The company hired a new treasurer.
< Prev
2 of 23
Next >
G Search or type URL
く
%23
2$
&
2
3
4
5
6
7
E
R
T
Y
U
S
G
K
L
C
und
command
option
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
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
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education