ble for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item uld be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. lect the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) Debit or Bank Balance Book Balance Credit to Cash Account Shown or Not Item Shown on Reconciliation NSF check from a customer is shown on the bank statement but not yet recorded by the company. NA Subtract Cr. Shown Checks written by another depositor but mistakenly charged against this company's account. Outstanding checks to suppliers existed at the end of September. Check written against the company's account and cleared by the bank eroneously not recorded by ne company's recordkeeper. Bank service charge for September is not yet recorded by the company. . The company made a month-end accrual for wages earned but not yet paid. 7. Checks outstanding on August 31 that cleared the bank in September. B. 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. 9. The company made a month-end accrual for expired insurance coverage. 10. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 11. The company had outstanding checks to employees on September 30. 12. The company hired a new treasurer. < Prev 2 of 23 Next > i......
ble for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item uld be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. lect the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.) Debit or Bank Balance Book Balance Credit to Cash Account Shown or Not Item Shown on Reconciliation NSF check from a customer is shown on the bank statement but not yet recorded by the company. NA Subtract Cr. Shown Checks written by another depositor but mistakenly charged against this company's account. Outstanding checks to suppliers existed at the end of September. Check written against the company's account and cleared by the bank eroneously not recorded by ne company's recordkeeper. Bank service charge for September is not yet recorded by the company. . The company made a month-end accrual for wages earned but not yet paid. 7. Checks outstanding on August 31 that cleared the bank in September. B. 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. 9. The company made a month-end accrual for expired insurance coverage. 10. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2. 11. The company had outstanding checks to employees on September 30. 12. The company hired a new treasurer. < Prev 2 of 23 Next > i......
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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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.)
Debit or
Shown or Not
Item
Bank Balance
Book Balance Credit to Cash
Shown on
Account
Reconciliation
1. NSF check from a customer is shown on the bank statement but not yet recorded by the company.
NA
Subtract
Cr.
Shown
2. Checks written by another depositor but mistakenly charged against this company's account.
3. Outstanding checks to suppliers existed at the end of September.
4. Check written against the company's account and cleared by the bank erroneously not recorded by
the company's recordkeeper.
5. Bank service charge for September is not yet recorded by the company.
6. The company made a month-end accrual for wages earned but not yet paid.
7. Checks outstanding on August 31 that cleared the bank in September.
8. 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.
9. The company made a month-end accrual for expired insurance coverage.
10. Deposits mailed to the bank on September 30 had not been recorded by the bank until October 2.
11. The company had outstanding checks to employees on September 30.
12. The company hired a new treasurer.
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