Bank Reconciliation: Bank reconciliation is the process in which the entity reconciles its cash entries in accounts with the entries in bank statement issued by the bank. The entity prepares bank reconciliation statement and it has two sides; Bank Side and Cash side To Indicate: The reconciliation of items in the bank reconciliation

Question

The following reconciling items are applicable to the bank reconciliation for Forde Co.Indicate how each item should be shown on a bank reconciliation. (a) Outstanding checks. Select how the item should be shown on a bank reconciliation Added to cash balance per booksDeducted from cash balance per bankDeducted from cash balance per booksAdded to cash balance per bank (b) Bank debit memorandum for service charge. Select how the item should be shown on a bank reconciliation Added to cash balance per bankDeducted from cash balance per booksDeducted from cash balance per bankAdded to cash balance per books (c) Bank credit memorandum for collecting from customer an electronic funds transfer. Select how the item should be shown on a bank reconciliation Deducted from cash balance per bankDeducted from…

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Chapter 5, Problem 5.16E

To determine

Concept Introduction:

Bank Reconciliation:

Bank reconciliation is the process in which the entity reconciles its cash entries in accounts with the entries in bank statement issued by the bank. The entity prepares bank reconciliation statement and it has two sides; Bank Side and Cash side

To Indicate:

The reconciliation of items in the bank reconciliation

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The following reconciling items are applicable to the bank reconciliation for Forde Co.Indicate how each item should be shown on a bank reconciliation. (a) Outstanding checks. Select how the item should be shown on a bank reconciliation Added to cash balance per booksDeducted from cash balance per bankDeducted from cash balance per booksAdded to cash balance per bank (b) Bank debit memorandum for service charge. Select how the item should be shown on a bank reconciliation Added to cash balance per bankDeducted from cash balance per booksDeducted from cash balance per bankAdded to cash balance per books (c) Bank credit memorandum for collecting from customer an electronic funds transfer. Select how the item should be shown on a bank reconciliation Deducted from cash balance per bankDeducted from…

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Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is a(n) Select one: A. deduction from the balance per company's records B. addition to the balance per company's records C. addition to the balance per bank statement D. deduction from the balance per bank statement