For each item that follows, select Yes/No in the appropriate columns to Indicate whether the item should be added to or deducted rom the book or bank balance of September, or whether It should not appear on the reconciliation. If the book balance Is to be adjusted, select Dr. or Cr. In the Must Adjust column to Indicate whether the Cash balance should be debited or credited. Bank Balance of September Book Balance of September Not Shown on the Reconciliation Must Adjust Add Deduct Add Deduct 1. Interest income eamed on the account. 2. Deposit made on September 30 after the bank was closed. Cheques outstanding on August 31 that cleared the bank in 3. September. NSF cheque from customer returned on September 15 but not 4. recorded by the company. 5. Cheques written and mailed to payees on September 30. Deposit made on September 5 that was processed on 6. September 8. 7. Bank service charge. 8. Cheques written and mailed to payees on October 5. Cheques written by another company but charged against the 9. company's account in error. Customer payment through electronic fund transfer received in 10. the bank but not recorded in the company's books. 11. Bank charge for collection of electronic fund transfer in Item 10. Cheque written against the account and cleared by the bank: 12. not recorded by the bookkeeper.
For each item that follows, select Yes/No in the appropriate columns to Indicate whether the item should be added to or deducted rom the book or bank balance of September, or whether It should not appear on the reconciliation. If the book balance Is to be adjusted, select Dr. or Cr. In the Must Adjust column to Indicate whether the Cash balance should be debited or credited. Bank Balance of September Book Balance of September Not Shown on the Reconciliation Must Adjust Add Deduct Add Deduct 1. Interest income eamed on the account. 2. Deposit made on September 30 after the bank was closed. Cheques outstanding on August 31 that cleared the bank in 3. September. NSF cheque from customer returned on September 15 but not 4. recorded by the company. 5. Cheques written and mailed to payees on September 30. Deposit made on September 5 that was processed on 6. September 8. 7. Bank service charge. 8. Cheques written and mailed to payees on October 5. Cheques written by another company but charged against the 9. company's account in error. Customer payment through electronic fund transfer received in 10. the bank but not recorded in the company's books. 11. Bank charge for collection of electronic fund transfer in Item 10. Cheque written against the account and cleared by the bank: 12. not recorded by the bookkeeper.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:For each item that follows, select Yes/No in the appropriate columns to indicate whether the Item should be added to or deducted
from the book or bank balance of September, or whether It should not appear on the reconciliation. If the book balance is to be
adjusted, select Dr. or Cr. In the Must Adjust column to Indicate whether the Cash balance should be debited or credited.
Bank Balance of September
Book Balance of September
Not Shown
on the
Reconciliation
Must
Add
Deduct
Add
Deduct
Adjust
1. Interest income eamed on the account.
2. Deposit made on September 30 after the bank was closed.
Cheques outstanding on August 31 that cleared the bank in
3.
September.
NSF cheque from customer returned on September 15 but not
4.
recorded by the company.
5. Cheques written and mailed to payees on September 30.
Deposit made on September 5 that was processed on
6.
September 8.
7. Bank service charge.
8. Cheques written and mailed to payees on October 5.
Cheques written by another company but charged against the
9.
company's account in error.
Customer payment through electronic fund transfer received in
10
the bank but not recorded in the company's books.
11. Bank charge for collection of electronic fund transfer in Item 10.
Cheque written against the account and cleared by the bank:
12.
not recorded by the bookkeeper.
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