Each of the items in the following list must be accounted for in bank reconciliation. Next to each item, enter the appropriate letter from the following possible treatments: (a) Bank side of reconciliation, add the item; (b) Bank side of reconciliation, subtract the item; (c) Book side of reconciliation, add the item; (d) 1. Outstanding check 2. NSF check 3. Bank service charge 4. Cost of printed checks 5. Bank error that decreased bank balance Book side of reconciliation, subtract the item 6. Deposit in transit 7. Bank collection 8. Customer check returned because of unauthorized signature 9. Book error that increase balance of cash account

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 2CE
icon
Related questions
Question
Please answer.
Each of the items in the following list must be accounted for in bank reconciliation. Next to each item, enter the
appropriate letter from the following possible treatments:
(а)
(b)
(c)
(d)
Bank side of reconciliation, add the item;
Bank side of reconciliation, subtract the item;
Book side of reconciliation, add the item;
Book side of reconciliation, subtract the item
1. Outstanding check
2. NSF check
3. Bank service charge
4. Cost of printed checks
5. Bank error that decreased bank balance
6. Deposit in transit
7. Bank collection
8. Customer check returned because of unauthorized signature
9. Book error that increase balance of cash account
Transcribed Image Text:Each of the items in the following list must be accounted for in bank reconciliation. Next to each item, enter the appropriate letter from the following possible treatments: (а) (b) (c) (d) Bank side of reconciliation, add the item; Bank side of reconciliation, subtract the item; Book side of reconciliation, add the item; Book side of reconciliation, subtract the item 1. Outstanding check 2. NSF check 3. Bank service charge 4. Cost of printed checks 5. Bank error that decreased bank balance 6. Deposit in transit 7. Bank collection 8. Customer check returned because of unauthorized signature 9. Book error that increase balance of cash account
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Market Efficiency
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Auditing: A Risk Based-Approach (MindTap Course L…
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning