In preparing its March 31, 2020 bank reconciliation, Blue Devil Inc. has available the following information: Balance per bank statement, 03/31/2020 $18,650 Deposit in transit, 03/31/2020 3,900 Return of customer's check for insufficient funds, 03/31/2020 600 Outstanding checks, 03/31/2020 2,750 Bank service charges for March, 2020 100 Required: Identify which type of adjustment is needed for each of the following four transactions. The four types of adjustments include: (A) Add to the book balance; (B) Deduct from the book balance; (C) Add to the bank balance; and (D) Deduct from the bank balance. I. Deposit in transit, 03/31/2020 II. Return of customer's check for insufficient funds, 03/31/2020 III. Outstanding checks, 03/31/2020 IV. Bank service charges for March, 2020
In preparing its March 31, 2020 bank reconciliation, Blue Devil Inc. has available the following information:
Balance per bank statement, 03/31/2020 $18,650
Deposit in transit, 03/31/2020 3,900
Return of customer's check for insufficient funds, 03/31/2020 600
Outstanding checks, 03/31/2020 2,750
Bank service charges for March, 2020 100
Required:
Identify which type of adjustment is needed for each of the following four transactions. The four types of adjustments include: (A) Add to the book balance; (B) Deduct from the book balance; (C) Add to the bank balance; and (D) Deduct from the bank balance.
I. Deposit in transit, 03/31/2020
II. Return of customer's check for insufficient funds, 03/31/2020
III. Outstanding checks, 03/31/2020
IV. Bank service charges for March, 2020
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