Indicate what effect each situation will have on the bank reconciliation process. Place the number of your choice beside the items listed. 1. Add to bank balance 2. Deduct from bank balance 3. Add to checkbook balance 4. Deduct from checkbook balance a. deposit in transit b. bank service charge _c. NSF check d. Check written for $95 recorded on the company's ledger as $59 e. Outstanding checks f. Check written for $80 recorded as $800 g. Check printing charges h Interest earned on checking account

Indicate what effect each situation will have on the bank reconciliation process. Place the number of your choice beside the items listed. 1. Add to bank balance 2. Deduct from bank balance 3. Add to checkbook balance 4. Deduct from checkbook balance a. deposit in transit b. bank service charge _c. NSF check d. Check written for $95 recorded on the company's ledger as $59 e. Outstanding checks f. Check written for $80 recorded as $800 g. Check printing charges h Interest earned on checking account

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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