College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Chapter 6, Problem 2QY
To determine
Find the correct option, the option that does not affect the bank statement.
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Students have asked these similar questions
Which of the following is supported with a debit memorandum?
a.proceeds of bank loan
b.collections already forwarded to the bank for deposit but too late to appear in the bank statement
c.matured time deposits transferred by bank to the current account
d.notes receivable collected by the bank in favor of the depositor
e.charges for penalty
Debit order is an example of an adjusting difference.
True or False
Bank understates a deposit on the bank statement is an example of a timing difference.
True or False
What are mistakes committed by the drawer?
A. Bank errors
B. Book errors
C. Deposit in transit
D. NSF Check
Chapter 6 Solutions
College Accounting (Book Only): A Career Approach
Ch. 6 - Prob. 1QYCh. 6 - Prob. 2QYCh. 6 - Which of the following does not explain the...Ch. 6 - What is the journal entry to record an NSF check,...Ch. 6 - Prob. 5QYCh. 6 - Prob. 6QYCh. 6 - Prob. 7QYCh. 6 - Prob. 8QYCh. 6 - Prob. 1DQCh. 6 - Prob. 2DQ
Ch. 6 - Prob. 3DQCh. 6 - Prob. 4DQCh. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - a. Why would a business use a Petty Cash Fund? b....Ch. 6 - Prob. 8DQCh. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Prob. 7ECh. 6 - a. Describe the entries that have been posted to...Ch. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - Prob. 3PACh. 6 - Prob. 4PACh. 6 - Prob. 5PACh. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - Prob. 4PBCh. 6 - Prob. 5PBCh. 6 - Prob. 1ACh. 6 - Prob. 2ACh. 6 - You work as a cashier for a service business. Some...
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Similar questions
- What should be done if differences are found between the bank statement and the book account?arrow_forwardWhich of the following does not explain the differences between the bank statement balance and the customers cash balance? a. Deposit in transit b. Canceled checks c. An NSF check d. Errors e. Interest incomearrow_forwardWhich of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bankarrow_forward
- Which of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transitarrow_forwardDeposits made by a company but not yet reflected in a bank statement are called: a.Credit memoranda. b.Deposits in transit. c.Debit memoranda. d.None of these choices are correct.arrow_forwardIf credit side of a bank account is greater than debit side, it indicates: A. Bank overdraft B. Cash at bank C. Bank balance D. Current assetarrow_forward
- Another way to describe account reconciliation is bank reconciliation—the process of bringing the balance of the bank statement and the balance of the cash account into agreement. True Falsearrow_forwardA prenumbered document that tells the bank to pay the designated party a specific amount is a A. check B. deposit ticket C. routing number D. remittance advicearrow_forwardWhich of the following must be deducted from the bank statement balance in preparing a bank reconciliation which ends with an adjusted cash balance? a. Reduction of the loan charged to the account of depositor b. Outstanding checks c. Deposit in transit d. Certified checksarrow_forward
- how can i distingush between bank accounts in qbo?arrow_forwardWhen preparing bank reconciliation, deposits in transit will:A. Increase the balance per depositor's records.B. Decrease the balance per depositor's records.C. Increase the balance per the bank statement.D. Decrease the balance per the bank statement.arrow_forwardWhen an entity's bank account in the general ledger has a credit balance, this means that the entity owes the bank money. A. True B. Falsearrow_forward
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