Homework Help is Here – Start Your Trial Now!
Business
Accounting
No.5 Learning Example Whilst preparing a bank reconciliation statement at 31 December. The following items caused a difference between the bank statement balance and the cash book balance. 1.Bank interest charged to the account in error 2.Direct debit for $500 for insurance 3.Bank charges of $70 4.Cheque paid to a supplier on 29 December 5.Receipt from a trade receivable by electronic transfer Required Which of these items will result in an adjustment to the balance per the bank statement? A.2, 3, and 5 B. 1 and 4 C. 1,4, and 5 D1,3, and 5

No.5 Learning Example Whilst preparing a bank reconciliation statement at 31 December. The following items caused a difference between the bank statement balance and the cash book balance. 1.Bank interest charged to the account in error 2.Direct debit for $500 for insurance 3.Bank charges of $70 4.Cheque paid to a supplier on 29 December 5.Receipt from a trade receivable by electronic transfer Required Which of these items will result in an adjustment to the balance per the bank statement? A.2, 3, and 5 B. 1 and 4 C. 1,4, and 5 D1,3, and 5

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter4: Internal Control And Cash
Section: Chapter Questions
Problem 47E
See similar textbooks
icon
Related questions
Question
No.5 Learning Example Whilst preparing a bank reconciliation statement at 31 December. The following items caused a difference between the bank statement balance and the cash book balance. 1.Bank interest charged to the account in error 2.Direct debit for $500 for insurance 3.Bank charges of $70 4.Cheque paid to a supplier on 29 December 5.Receipt from a trade receivable by electronic transfer Required Which of these items will result in an adjustment to the balance per the bank statement? A.2, 3, and 5 B. 1 and 4 C. 1,4, and 5 D1,3, and 5
Transcribed Image Text:No.5 Learning Example Whilst preparing a bank reconciliation statement at 31 December. The following items caused a difference between the bank statement balance and the cash book balance. 1.Bank interest charged to the account in error 2.Direct debit for $500 for insurance 3.Bank charges of $70 4.Cheque paid to a supplier on 29 December 5.Receipt from a trade receivable by electronic transfer Required Which of these items will result in an adjustment to the balance per the bank statement? A.2, 3, and 5 B. 1 and 4 C. 1,4, and 5 D1,3, and 5
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Bank reconciliation statement
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
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS