Answered: Question 8 options: NSF check Bank…

Question 8 options: NSF check Bank charges Outstanding checks Error in recording a check Interest revenue Deposit in transit Note collected by the bank

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

Match each item to a bank statement adjustment, a company books adjustment, or either.

Question 8 options:

	NSF check
	Bank charges
	Outstanding checks
	Error in recording a check
	Interest revenue
	Deposit in transit
	Note collected by the bank

1.	bank statement adjustment
2.	company books adjustment
3.	either

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