Match each term associated with a bank reconciliation with its description. Terms Descriptions 1. Checks outstanding 2. NSF checks 3. Company error 4. Interest earned 5. Deposits outstanding 6. Bank service fees a. Cash receipts received by the company but not yetrecorded by the bank.b. Fees imposed by the bank to the company forproviding routine services.c. Checks written to the company that are returnedby the bank as not having adequate funds.d. Checks written by the company but not yetrecorded by the bank.e. Money earned on the average daily balance of thechecking account.f. The company recorded a deposit twice.
Match each term associated with a bank reconciliation with its description. Terms Descriptions 1. Checks outstanding 2. NSF checks 3. Company error 4. Interest earned 5. Deposits outstanding 6. Bank service fees a. Cash receipts received by the company but not yetrecorded by the bank.b. Fees imposed by the bank to the company forproviding routine services.c. Checks written to the company that are returnedby the bank as not having adequate funds.d. Checks written by the company but not yetrecorded by the bank.e. Money earned on the average daily balance of thechecking account.f. The company recorded a deposit twice.
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter7: Internal Control And Cash
Section: Chapter Questions
Problem 21E
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Question
Match each term associated with a bank reconciliation with its description.
| Terms | Descriptions |
|
1. Checks outstanding 2. NSF checks 3. Company error 4. Interest earned 5. Deposits outstanding 6. Bank service fees |
a. Cash receipts received by the company but not yet recorded by the bank. b. Fees imposed by the bank to the company for providing routine services. c. Checks written to the company that are returned by the bank as not having adequate funds. d. Checks written by the company but not yet recorded by the bank. e. Money earned on the average daily balance of the checking account. f. The company recorded a deposit twice. |
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