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Accounts Receivable Clerk recorded a check cleared by the [ Choose ] bank for $345 as $354. Deposits in transit [ Choose ] Accounts Payable Clerk recorded a check cleared by the bank for $605 as $650. [ Choose ] Wire transfer by customer [ Choose ] Journalized depreciation for $475. Choose ] A check is returned for insufficient funds. [ Choose ] Outstanding checks [ Choose ] Bank recorded a deposit for $675 as $657. [ Choose ] Automatic Loan Installment Payment [ Choose ]

Accounts Receivable Clerk recorded a check cleared by the [ Choose ] bank for $345 as $354. Deposits in transit [ Choose ] Accounts Payable Clerk recorded a check cleared by the bank for $605 as $650. [ Choose ] Wire transfer by customer [ Choose ] Journalized depreciation for $475. Choose ] A check is returned for insufficient funds. [ Choose ] Outstanding checks [ Choose ] Bank recorded a deposit for $675 as $657. [ Choose ] Automatic Loan Installment Payment [ Choose ]

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 11EA: Using the following information, prepare a bank reconciliation. Bank balance: $6,988 Book balance:...
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Identify where each of the following transactions would be found on the bank reconciliation.
 
Identify where each of the following transactions would be found on the bank reconciliation. Bank processed in error a customer check twice. [ Choose ] Accounts Receivable Clerk recorded a check cleared by the bank for $345 as $354. [Choose ] Deposits in transit [ Choose ] Accounts Payable Clerk recorded a check cleared by the [ Choose ] bank for $605 as $650. Wire transfer by customer [ Choose ] Journalized depreciation for $475. [ Choose ] A check is returned for insufficient funds. [ Choose ] Outstanding checks [ Choose ] Bank recorded a deposit for $675 as $657. [ Choose ] Automatic Loan Installment Payment [ Choose ]
Transcribed Image Text:Identify where each of the following transactions would be found on the bank reconciliation. Bank processed in error a customer check twice. [ Choose ] Accounts Receivable Clerk recorded a check cleared by the bank for $345 as $354. [Choose ] Deposits in transit [ Choose ] Accounts Payable Clerk recorded a check cleared by the [ Choose ] bank for $605 as $650. Wire transfer by customer [ Choose ] Journalized depreciation for $475. [ Choose ] A check is returned for insufficient funds. [ Choose ] Outstanding checks [ Choose ] Bank recorded a deposit for $675 as $657. [ Choose ] Automatic Loan Installment Payment [ Choose ]
V [ Choose ] Decrease Book Side Decrease Bank Side he Would not be found on a bank reconciliation Increase both bank side and book side Increase Bank Side Increase bank side and decrease book side Increase Book Side Decrease both bank side and book side Decrease bank side and increase book side
Transcribed Image Text:V [ Choose ] Decrease Book Side Decrease Bank Side he Would not be found on a bank reconciliation Increase both bank side and book side Increase Bank Side Increase bank side and decrease book side Increase Book Side Decrease both bank side and book side Decrease bank side and increase book side
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