Identify where each of the following transactions would be found on the bank reconciliation. -Choose 1 for your answer: Increase both bank side and book side Increase Bank Side Decrease both bank side and book side Increase Book Side Would not be found on a bank reconciliation Increase bank side and decrease book side Decrease Book Side Decrease bank side and increase book side Decrease Bank Side Accounts Receivable Clerk recorded a check cleared by the bank for $215 as $125. Bank recorded deposit for $1,234 as $1,324. Accounts Payable Clerk recorded a check cleared by the bank for $583 as $538. Bank processed in error a customer check twice. Automatic Loan Payment Wire transfer by customer Interest income Bank charges Overcharge by Bank (Error)
Identify where each of the following transactions would be found on the bank reconciliation. -Choose 1 for your answer: Increase both bank side and book side Increase Bank Side Decrease both bank side and book side Increase Book Side Would not be found on a bank reconciliation Increase bank side and decrease book side Decrease Book Side Decrease bank side and increase book side Decrease Bank Side Accounts Receivable Clerk recorded a check cleared by the bank for $215 as $125. Bank recorded deposit for $1,234 as $1,324. Accounts Payable Clerk recorded a check cleared by the bank for $583 as $538. Bank processed in error a customer check twice. Automatic Loan Payment Wire transfer by customer Interest income Bank charges Overcharge by Bank (Error)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Identify where each of the following transactions would be found on the bank reconciliation.
-Choose 1 for your answer:
- Increase both bank side and book side
- Increase Bank Side
- Decrease both bank side and book side
- Increase Book Side
- Would not be found on a bank reconciliation
- Increase bank side and decrease book side
- Decrease Book Side
- Decrease bank side and increase book side
- Decrease Bank Side
-
Accounts Receivable Clerk recorded a check cleared by the bank for $215 as $125. -
Bank recorded deposit for $1,234 as $1,324.
-
Accounts Payable Clerk recorded a check cleared by the bank for $583 as $538.
-
Bank processed in error a customer check twice.
-
Automatic Loan Payment
-
Wire transfer by customer
-
Interest income
-
Bank charges
-
Overcharge by Bank (Error)
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