Indicate whether the following items would be added (1) or subtracted (2) from the company’sbooks or the bank statement side of a bank reconciliation.Reconciling Item Bank Statement Company’s Booksa. Outstanding checks of $12,000b. Bank service charge of $15c. Deposit in transit of $2,300d. Interest earned of $5
Indicate whether the following items would be added (1) or subtracted (2) from the company’sbooks or the bank statement side of a bank reconciliation.Reconciling Item Bank Statement Company’s Booksa. Outstanding checks of $12,000b. Bank service charge of $15c. Deposit in transit of $2,300d. Interest earned of $5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Indicate whether the following items would be added (1) or subtracted (2) from the company’s
books or the bank statement side of a bank reconciliation.
Reconciling Item Bank Statement Company’s Books
a. Outstanding checks of $12,000
b. Bank service charge of $15
c. Deposit in transit of $2,300
d. Interest earned of $5
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