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A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) Item 1. Bank service charge for September is not yet recorded by the company. 2. The company made a month-end accrual for expired insurance coverage. 3. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 4. Cheque written against the company's account and cleared by the bank erroneously not recorded by the company's recordkeeper. 5. Outstanding cheques to suppliers existed at the end of September. 6. A customer sent an NSF cheque in payment of their account. The company did not know it was NSF until they received the bank statement. 7. Cheques written and mailed to payees on October 2. 8. The company hired a new treasurer. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 10 The company made a month-end accrual for wages earned but not yet paid. 11. posits in transit as of September 30 were not recorded by the bank until October 3. 12. Night deposit made on September 30 after the bank closed. Bank Balance Book Balance Debit or Credit to Cash Account Shown or Not Shown on Reconciliation

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) Item 1. Bank service charge for September is not yet recorded by the company. 2. The company made a month-end accrual for expired insurance coverage. 3. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 4. Cheque written against the company's account and cleared by the bank erroneously not recorded by the company's recordkeeper. 5. Outstanding cheques to suppliers existed at the end of September. 6. A customer sent an NSF cheque in payment of their account. The company did not know it was NSF until they received the bank statement. 7. Cheques written and mailed to payees on October 2. 8. The company hired a new treasurer. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 10 The company made a month-end accrual for wages earned but not yet paid. 11. posits in transit as of September 30 were not recorded by the bank until October 3. 12. Night deposit made on September 30 after the bank closed. Bank Balance Book Balance Debit or Credit to Cash Account Shown or Not Shown on Reconciliation

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.3E
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A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) 1024 482-2-7 Item 1. Bank service charge for September is not yet recorded by the company. 2. The company made a month-end accrual for expired insurance coverage. 3. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 4. Cheque written against the company's account and cleared by the bank erroneously not recorded by the company's recordkeeper. 5. Outstanding cheques to suppliers existed at the end of September. 6. A customer sent an NSF cheque in payment of their account. The company did not know it was NSF until they received the bank statement. 7. Cheques written and mailed to payees on October 2. 8. The company hired a new treasurer. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 10. The company made a month-end accrual for wages earned but not yet paid. 11. Leposits in transit as of September 30 were not recorded by the bank until October 3. 12. Night deposit made on September 30 after the bank closed. Bank Balance Book Balance Debit or Credit to Cash Account Shown or Not Shown on Reconciliation
Transcribed Image Text:A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) 1024 482-2-7 Item 1. Bank service charge for September is not yet recorded by the company. 2. The company made a month-end accrual for expired insurance coverage. 3. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 4. Cheque written against the company's account and cleared by the bank erroneously not recorded by the company's recordkeeper. 5. Outstanding cheques to suppliers existed at the end of September. 6. A customer sent an NSF cheque in payment of their account. The company did not know it was NSF until they received the bank statement. 7. Cheques written and mailed to payees on October 2. 8. The company hired a new treasurer. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT. 10. The company made a month-end accrual for wages earned but not yet paid. 11. Leposits in transit as of September 30 were not recorded by the bank until October 3. 12. Night deposit made on September 30 after the bank closed. Bank Balance Book Balance Debit or Credit to Cash Account Shown or Not Shown on Reconciliation
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