Indicate how each of the following items would be included on a bank reconciliation.Deposits in transit at end of periodCheques recorded on this period's bank statementCompany cheque recorded incorrectly as $400 that cleared the bank in thecorrect amount of $350Interest earned on bank account during the periodEFT payments from customersDeposits recorded in the company's books this period that were also recordedon this period's bank statementBank processed deposit of $649 as $969 in errorBank charges that appear on the bank statementBank correction of an error from the prior periodEFT payment for equipment rentalIncrease balance per bankIncrease balance per booksDecrease balance per bankDecrease balance per booksNot included

Disparities between the amount indicated in the account holder's records and the cash balance…

Answered: Deposits in transit at end of period…

Business

Accounting

Deposits in transit at end of period Cheques recorded on this period's bank statement

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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