Identify which of the following items are added to or subtracted from the unadjusted book balance to arrive at the true cash balance. Distinguish the additions from the subtractions by placing a + beside the items that are added to the unadjusted book balance and a beside those subtracted from it. The first item is recorded as an example. Reconciling Items Credit memo Interest revenue Deposits in transit Debit memo Service charge Charge for printing checks NSF check from customer Note receivable collected by the bank Outstanding checks Book Balance Adjusted? Yes Added or Subtracted?

Identify which of the following items are added to or subtracted from the unadjusted book balance to arrive at the true cash balance. Distinguish the additions from the subtractions by placing a + beside the items that are added to the unadjusted book balance and a beside those subtracted from it. The first item is recorded as an example. Reconciling Items Credit memo Interest revenue Deposits in transit Debit memo Service charge Charge for printing checks NSF check from customer Note receivable collected by the bank Outstanding checks Book Balance Adjusted? Yes Added or Subtracted?

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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Which of the following would be included in a journal to record an NSF check? a. A debit to Accounts payable and a credit to Cash b. A debit to Cash and a credit to Accounts receivable c. A debit to Accounts receivable and a credit to Cash d. A debit to Miscellaneous expense and a credit to Cash
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