Accounting
27th Edition
ISBN: 9781337272094
Author: WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher: Cengage Learning,
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Chapter 8, Problem 8.17EX
To determine
To identify: The reconciling items.
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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 is an appropriate reconciling item to the balance per bank in a bank reconciliation?
a. Bank service charge
b. Chargeback for NSF check
c. Deposit in transit
d. Bank interest
On a bank reconciliation, which of the following is added to the balance per book?
Interest earned on the bank balance.
EFT payments to vendors.
Deposits in transit.
Outstanding checks.
Chapter 8 Solutions
Accounting
Ch. 8 - Prob. 1DQCh. 8 - Why should the employee who handles cash receipts...Ch. 8 - Prob. 3DQCh. 8 - Why should the responsibility for maintaining the...Ch. 8 - Prob. 5DQCh. 8 - Prob. 6DQCh. 8 - The balance of Cash is likely to differ from the...Ch. 8 - Prob. 8DQCh. 8 - Prob. 9DQCh. 8 - (a) How are cash equivalents reported in the...
Ch. 8 - Internal control elements Identify each of the...Ch. 8 - Prob. 8.1BPECh. 8 - Prob. 8.2APECh. 8 - Prob. 8.2BPECh. 8 - Prob. 8.3APECh. 8 - Prob. 8.3BPECh. 8 - Prob. 8.4APECh. 8 - Prob. 8.4BPECh. 8 - Prob. 8.5APECh. 8 - Prob. 8.5BPECh. 8 - Sarbanes-Oxley internal control report Using...Ch. 8 - Prob. 8.2EXCh. 8 - Prob. 8.3EXCh. 8 - Prob. 8.4EXCh. 8 - Prob. 8.5EXCh. 8 - Prob. 8.6EXCh. 8 - Prob. 8.7EXCh. 8 - Prob. 8.8EXCh. 8 - Prob. 8.9EXCh. 8 - Prob. 8.10EXCh. 8 - Prob. 8.11EXCh. 8 - Entry for cash sales; cash short The actual cash...Ch. 8 - Entry for cash sales; cash over The actual cash...Ch. 8 - Internal control of cash payments Abbe Co. is a...Ch. 8 - Prob. 8.15EXCh. 8 - Prob. 8.16EXCh. 8 - Prob. 8.17EXCh. 8 - Prob. 8.18EXCh. 8 - Prob. 8.19EXCh. 8 - Prob. 8.20EXCh. 8 - Prob. 8.21EXCh. 8 - Prob. 8.22EXCh. 8 - Prob. 8.23EXCh. 8 - Prob. 8.24EXCh. 8 - Prob. 8.25EXCh. 8 - Cash to monthly cash expenses ratio El Dorado Inc....Ch. 8 - Prob. 8.27EXCh. 8 - Prob. 8.28EXCh. 8 - Prob. 8.1APRCh. 8 - Prob. 8.2APRCh. 8 - Prob. 8.3APRCh. 8 - Prob. 8.4APRCh. 8 - Prob. 8.5APRCh. 8 - Prob. 8.1BPRCh. 8 - Prob. 8.2BPRCh. 8 - Prob. 8.3BPRCh. 8 - Prob. 4BPRCh. 8 - Prob. 5BPRCh. 8 - Ethics in Action Tehra Dactyl is an accountant for...Ch. 8 - Ethics in Action During the preparation of the...Ch. 8 - Prob. 8.5CPCh. 8 - Prob. 8.6CPCh. 8 - Prob. 8.7CPCh. 8 - Prob. 8.8CPCh. 8 - Prob. 8.9CP
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- Which 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_forwardPrepare the journal entry to reconcile the bank statement in EB7.arrow_forwardLeann Company received the following bank statement. Using the information from PB11 and PB12, prepare the bank reconciliation.arrow_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_forwardPrepare the journal entry required to reconcile the book balance to the bank balance.arrow_forwardWhat should be done if differences are found between the bank statement and the book account?arrow_forward
- Inner Resources Company received the following bank statement. Using the information from PA11 and PA12, prepare the bank reconciliation.arrow_forwardReconciliation Items per Bank - Deposits in Transit Question; What does it mean when it says to compare individual deposits on the bank statement with: 1) the deposits in transit from the preceding bank reconciliation. AND 2) the current month's deposits recorded in the company's books. Please explain e.g's would be helpful as well.arrow_forwardmethod of preparing bank reconciliation wherein the bank balance is adjusted to agree with the book balance a. bank to book method b. adjusted method c. bank to bank methodarrow_forward
- After preparing a bank reconciliation, what adjustments does the company need to make to its records?arrow_forwardThe journal entries for a bank reconciliation a. are taken from the "balance per bank" section only. b. may include a debit to Office Expense for bank service charges. C. may include a credit to Accounts Receivable for an NSF check. d. may include a debit to Accounts Payable for an NSF check.arrow_forwardWould a bank service charge be added to or subtracted from the company's books or the bank statement during the construction of a bank reconciliation?arrow_forward
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