Identify where each of the following transactions would be found on the bankreconciliation.Decreasebook sideWould not be foundDecreaseIncreaseIncreaseDecreaseIncrease bankDecrease bothIncreaseon a bankreconciliationbank sideside andbook sidebank side andincrease bookboth bankbank sidebank side andside anddecreasebook sidesidebook sidebook side1. Outstanding check2. Interest income3. NSF check4. Wire transfer by customer5. Credit sale to customer6. Bank charges7. Overcharge by Bank (Error)8. Depreciation on equipment9. Deposit in transit10. 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

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

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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Bank Reconciliation Components ldentify the requested amount in each of the following situations: a. Howell Company's August 31 bank reconciliation shows deposits in transit of $3.400 The general ledger Cash in Bank account shows total cash receipts during September of $92.200. The September bank statement shows total cash deposits (and no credit memos) of $89.000. What amount of deposits in transit should appear in the September 30 bank reconciliation? b Wright Corporation's March 31 bank reconciliation shows deposits in transit of $2.600. The general ledger Cash in Bank account shows total cash receipts during April of S64 100. The April bank statement shows total cash deposits of S67200 (including $3,000. from the collection of a note: the note collection has not yet been recorded by Wright what amount of deposits in transit should appear in the April 30 bank reconciliation? Braddock Company's october 31 bank reconciliation shows outstanding checks of $3600.…
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Control Features of a Bank Account: Reconciling the Bank Account (Entries from Bank Reco Knowledge Check A bank reconciliation from Ware, Inc. is provided here. Cash balance per bank statement Add: Deposits in transit $18,200 2,100 20,300 Less: Outstanding checks 1,050 Adjusted cash balance per bank 19,250 Cash balance per books 17,000 Add: Electronic funds transfer received $2,650 Interest earned 30 2,680 19,680 Less: NSF check-J. King 400 Bank charges 30 430 Adjusted cash balance per books $19,250 Prepare all necessary journal entries as a result of the bank reconciliation. (List all debit entries before credit entries. Credi titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Nov 30 Cash Debit Credit
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Instructions: Calculate the following Reconciliation for Hancock, Reid, & Carson for the period ending March 31, 2021. Prepare the March bank reconciliation statement on the blank statement provided for Hancock, Reid, & Carson Ltd. according to the following information: • Royal Bank of Canada statement says the current balance is $17,864.12. • There was an NSF cheque #1706 from Peter Bartrum in the amount of $1,870.54. There are bank service charges of $60.00; there are overdraft interest charges of $86.90; there is a preauthorized loan payment charge of $617.44; the bank paid Hancock, Reid & Carson Ltd. $204.12 interest on a revolving T-bill investment, and there is a charge of $54.00 for the annual rental of a safety deposit box. Upon comparing the bank statement to the company's cheque register, you noted that the final balance in the cheque register was $16,627.01 and that cheques #588 for $198.27, #592 for $i,846.40, #596 for $374.80 and #599 for $1,320.40 are outstanding. You…
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Please answer required a,b