If a check correctly written and paid by the bank for $452 is incorrectly recorded in the company's books for $389, how should this error be treatedon the bank reconciliation?Multiple ChoiceSubtract $63 from the bank's balance and add $63 to the book's balance.ОAdd $63 to the book balance.OSubtract $63 from the bank's balance.ОSubtract $63 from the book balance.0.Add $63 to the bank's balance.

The Reason:The company recorded a smaller expense ($389) than the actual amount paid by the bank…

Answered: If a check correctly written and paid…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 15MC: Which of the following items are found on a book side of the bank reconciliation? A. beginning bank...

See similar textbooks

Similar questions

Which of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bank
Which of the following does not explain the differences between the bank statement balance and the customers cash balance? a. Deposit in transit b. Canceled checks c. An NSF check d. Errors e. Interest income
Which of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transit
In a cash receipts journal, both the Accounts Receivable Credit column and the Cash Debit column were mistakenly underadded by 700. How will this error be discovered?
Hajun Company received the following bank statement. Using the information from PB9 and PB10, prepare the bank reconciliation.
If a check correctly written and paid by the bank for $502 is incorrectly recorded in the company's books for $434, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $68 from the bank's balance. Add $68 to the bank's balance. Subtract $68 from the book balance. Add $68 to the book balance. Subtract $68 from the bank's balance and add $68 to the book's balance.
If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $45 from the bank's balance and add $45 to the book's balance. Add $45 to the bank's balance. Subtract $45 from the bank's balance. Add $45 to the book balance. Subtract $45 from the book balance.
If a check correctly written and paid by the bank for $484 is incorrectly recorded on the company's books for $448, the appropriate treatment on the bank reconciliation would be to add $36 to the book's balance. subtract $36 from the book's balance. deduct $36 from the bank's balance. deduct $484 from the book's balance. O O O O
If a check correctly written and paid by the bank for $501 is incorrectly recorded in the company's books for $510, how should this error be treated on the bank reconciliation? Multiple Choice Add $9 to the bank's balance. Add $9 to the book balance. Subtract $9 from the bank's balance and add $45 to the book's balance. О Subtract $9 from the book balance. 0. Subtract $9 from the bank's balance.
If a check correctly written and paid by the bank for $838 is incorrectly recorded in the company's books for $883, how should this error be treated on the bank reconciliation?
Please provide Solutions
If a check correctly written and paid by the bank for $638 is incorrectly recorded on the company's books for $683, the appropriate treatment on the bank reconciliation would be to deduct $45 from the bank's balance. O subtract $45 from the book's balance. deduct $638 from the book's balance. add $45 to the book's balance.

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

College Accounting (Book Only): A Career Approach

Accounting

ISBN:

9781337280570

Author:

Scott, Cathy J.

Publisher:

South-Western College Pub

College Accounting, Chapters 1-27

Accounting

ISBN:

9781337794756

Author:

HEINTZ, James A.

Publisher:

Cengage Learning,

Auditing: A Risk Based-Approach (MindTap Course L…

Accounting

ISBN:

9781337619455

Author:

Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:

Cengage Learning

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

Financial Accounting

Accounting

ISBN:

9781337272124

Author:

Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS