Items on Company's Bank Statement The following items may appear on a bank statement: 1.  Bank correction of an error from posting another customer's check (disbursement) to the company's account 2.  EFT deposit 3.  Loan proceeds 4.  NSF check Indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company's account: Item Appears on the Bank Statementas a Debit or Credit Memo Increases or Decreases theBalance of the Company's Bank Account 1.  Bank correction of an error from posting another customer's check (disbursement) to the company's account     2.  EFT deposit     3.  Loan proceeds     4.  NSF check

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
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Items on Company's Bank Statement

The following items may appear on a bank statement:

1.  Bank correction of an error from posting another customer's check (disbursement) to the company's account

2.  EFT deposit

3.  Loan proceeds

4.  NSF check

Indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company's account:


Item
Appears on the Bank Statement
as a Debit or Credit Memo
Increases or Decreases the
Balance of the Company's Bank Account
1.  Bank correction of an error from posting another customer's check (disbursement) to the company's account    
2.  EFT deposit    
3.  Loan proceeds    
4.  NSF check    
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