Identify each of the following reconciling items as part of the cash reconciling process as: (A) added to the cash balance per the bank statement, (B) deducted from the cash balance per the bank statement, (C) added to the cash balance per the company's books, (D) deducted from the cash balance per the company's books or (E) not a reconciling item. (Note: none of the transaction reported by bank debit and credit memos have been recorded by the company). Group of answer choices Bank service charges, $210 Outstanding checks, $12,500 Check for $129 incorrectly recorded by the company as $219 Deposit in Transit, $7,500
Identify each of the following reconciling items as part of the cash reconciling process as: (A) added to the cash balance per the bank statement, (B) deducted from the cash balance per the bank statement, (C) added to the cash balance per the company's books, (D) deducted from the cash balance per the company's books or (E) not a reconciling item. (Note: none of the transaction reported by bank debit and credit memos have been recorded by the company). Group of answer choices Bank service charges, $210 Outstanding checks, $12,500 Check for $129 incorrectly recorded by the company as $219 Deposit in Transit, $7,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Identify each of the following reconciling items as part of the cash reconciling process as: (A) added to the cash balance per the bank statement, (B) deducted from the cash balance per the bank statement, (C) added to the cash balance per the company's books, (D) deducted from the cash balance per the company's books or (E) not a reconciling item. (Note: none of the transaction reported by bank debit and credit memos have been recorded by the company).
Group of answer choices
Bank service charges, $210
Outstanding checks, $12,500
Check for $129 incorrectly recorded by the company as $219
Deposit in Transit, $7,500
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