College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
expand_more
expand_more
format_list_bulleted
Question
Chapter 6, Problem 2QY
To determine
Find the correct option, the option that does not affect the bank statement.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
multiple choice question
a.The difference between the bank statement balance and the balance in Bank account in the general ledger may be due to:
unpresented payments.
outstanding receipts.
errors done by the bank and the entity.
all of the choices given.
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
Which of the following items does NOT cause a difference in the bank balance and the book balance on a bank reconciliation?
a.
Nonsufficient funds checks
b.
Deposits in transit
c.
Canceled checks
d.
Outstanding checks
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...
Knowledge Booster
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_forwardWhich of the following reconciling items may not result from bank side reccords of a bank account? a. Outstanding deposits b. Outstanding checks C. Errors made by bank accountant d. Non Sufficient Funds checksarrow_forwardDebit 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 Falsearrow_forward
- What are mistakes committed by the drawer? A. Bank errors B. Book errors C. Deposit in transit D. NSF Checkarrow_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_forwardWhich of the following will NOT require an adjusting entry when reconciling the bank statement? Interest earned Outstanding checks O NSF check from customer Bank service chargesarrow_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_forwardPlease correct answer and don't use hend raitingarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax College
College Accounting, Chapters 1-27AccountingISBN:9781337794756Author:HEINTZ, James A.Publisher:Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,