dentify where each of the following transactions would be found on the bank econciliation. Increase bank side Would not be found Decrease Decrease Increase Decrease Increase bank Decrease both Increase on a bank econciliation both bank side and book side side and decrease bank side and book side bank side bank side and book side increase book book side side book side 1. Outstanding check 2. Interest income 3. NSF check 4. Wire transfer by customer 5. Credit sale to customer 6. Bank charges 7. Overcharge by Bank (Error) 8. Depreciation on equipment 9. Deposit in transit 10. Automatic loan payment
dentify where each of the following transactions would be found on the bank econciliation. Increase bank side Would not be found Decrease Decrease Increase Decrease Increase bank Decrease both Increase on a bank econciliation both bank side and book side side and decrease bank side and book side bank side bank side and book side increase book book side side book side 1. Outstanding check 2. Interest income 3. NSF check 4. Wire transfer by customer 5. Credit sale to customer 6. Bank charges 7. Overcharge by Bank (Error) 8. Depreciation on equipment 9. Deposit in transit 10. Automatic loan payment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Identify where each of the following transactions would be found on the bank
reconciliation.
Decrease
book side
Would not be found
Decrease
Increase
Increase
Decrease
Increase bank
Decrease both
Increase
on a bank
reconciliation
bank side
side and
book side
bank side and
increase book
both bank
bank side
bank side and
side and
decrease
book side
side
book side
book side
1. Outstanding check
2. Interest income
3. NSF check
4. Wire transfer by customer
5. Credit sale to customer
6. Bank charges
7. Overcharge by Bank (Error)
8. Depreciation on equipment
9. Deposit in transit
10. Automatic loan payment
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