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Exercise 6-11 Bank reconciliation and adjusting entries LO P3 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.) 1. NSF check shown on bank statement but not yet recorded by company. 2. Check written by another depositor but charged against this company's account. 3. The company hired a new treasurer. 4. A customer sent an NSF check in payment of their account. The company did not know it was NSF until they received the bank statement. 5. Bank service charge. 6. The company had outstanding checks to employees on September 30. 7. The bank collected a note receivable on September 29. The company has not yet recorded the receipt of the cash. 8. Bank fees for check printing are not yet recorded by the company. 9. The company made a month-end accrual for wages earned but not yet paid. 10. Deposits in transit as of September 30 were not recorded by the bank until October 3. 11. The company received a bank fee for an NSF check from a customer. The company did not know of the fee until they received the bank statement. 12. Interest was earned by the company on the cash balance it had with the bank. The company has not yet recorded this interest. Bank Balance NA NA Book Balance Shown or Not Shown on Reconciliation

Exercise 6-11 Bank reconciliation and adjusting entries LO P3 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.) 1. NSF check shown on bank statement but not yet recorded by company. 2. Check written by another depositor but charged against this company's account. 3. The company hired a new treasurer. 4. A customer sent an NSF check in payment of their account. The company did not know it was NSF until they received the bank statement. 5. Bank service charge. 6. The company had outstanding checks to employees on September 30. 7. The bank collected a note receivable on September 29. The company has not yet recorded the receipt of the cash. 8. Bank fees for check printing are not yet recorded by the company. 9. The company made a month-end accrual for wages earned but not yet paid. 10. Deposits in transit as of September 30 were not recorded by the bank until October 3. 11. The company received a bank fee for an NSF check from a customer. The company did not know of the fee until they received the bank statement. 12. Interest was earned by the company on the cash balance it had with the bank. The company has not yet recorded this interest. Bank Balance NA NA Book Balance Shown or Not Shown on Reconciliation

FINANCIAL ACCOUNTING
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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Exercise 6-11 Bank reconciliation and adjusting entries LO P3 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.) 1. NSF check shown on bank statement but not yet recorded by company. 2. Check written by another depositor but charged against this company's account. 3. The company hired a new treasurer. 4. A customer sent an NSF check in payment of their account. The company did not know it was NSF until they received the bank statement. 5. Bank service charge. 6. The company had outstanding checks to employees on September 30. 7. The bank collected a note receivable on September 29. The company has not yet recorded the receipt of the cash. 8. Bank fees for check printing are not yet recorded by the company. 9. The company made a month-end accrual for wages earned but not yet paid. 10. Deposits in transit as of September 30 were not recorded by the bank until October 3. 11. The company received a bank fee for an NSF check from a customer. The company did not know of the fee until they received the bank statement. 12. Interest was earned by the company on the cash balance it had with the bank. The company has not yet recorded this interest. Bank Balance NA NA Book Balance Shown or Not Shown on Reconciliation
Transcribed Image Text:Exercise 6-11 Bank reconciliation and adjusting entries LO P3 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.) 1. NSF check shown on bank statement but not yet recorded by company. 2. Check written by another depositor but charged against this company's account. 3. The company hired a new treasurer. 4. A customer sent an NSF check in payment of their account. The company did not know it was NSF until they received the bank statement. 5. Bank service charge. 6. The company had outstanding checks to employees on September 30. 7. The bank collected a note receivable on September 29. The company has not yet recorded the receipt of the cash. 8. Bank fees for check printing are not yet recorded by the company. 9. The company made a month-end accrual for wages earned but not yet paid. 10. Deposits in transit as of September 30 were not recorded by the bank until October 3. 11. The company received a bank fee for an NSF check from a customer. The company did not know of the fee until they received the bank statement. 12. Interest was earned by the company on the cash balance it had with the bank. The company has not yet recorded this interest. Bank Balance NA NA Book Balance Shown or Not Shown on Reconciliation
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