Indicate whether the following items would be added (1) or subtracted (2) from the company’sbooks or the bank statement side of a bank reconciliation.Reconciling Item Bank Statement Company’s Booksa. Outstanding checks of $12,000b. Bank service charge of $15c. Deposit in transit of $2,300d. Interest earned of $5
Indicate whether the following items would be added (1) or subtracted (2) from the company’sbooks or the bank statement side of a bank reconciliation.Reconciling Item Bank Statement Company’s Booksa. Outstanding checks of $12,000b. Bank service charge of $15c. Deposit in transit of $2,300d. Interest earned of $5
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5DQ
Related questions
Question
Indicate whether the following items would be added (1) or subtracted (2) from the company’s
books or the bank statement side of a bank reconciliation.
Reconciling Item Bank Statement Company’s Books
a. Outstanding checks of $12,000
b. Bank service charge of $15
c. Deposit in transit of $2,300
d. Interest earned of $5
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
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 (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning