Which one of the following items requires an adjustment on the bank side of the bank​ reconciliation?         A. interest earned   B. a bank service charge   C. a note collected by the bank   D. deposits in transit

Q: The adjusting entries for a bank reconciliation Select the correct response: May include a debit to…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: Which of the following items is added to the “cash balance from bank statement” on a bank…

A: Deposits in transit: Deposit in transit means the money received by a company and recorded in the…

Q: Identify where each of the following transactions would be found on the bank reconciliation.…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Identify which one of the following is a document issued by an individual to his or her bank,…

A: Instrument issued by the pay for operating the payment and receiving settlement. There are many…

Q: no sufficient fund” appears on a bank reconciliation as a/an... A. Addition to the balance of cash…

A: When we deposit a check we assume that it has been cleared so at that time we increase the balance…

Q: Try It! For each of the following items, determine whether the item would be: a. added to the bank…

A: 11. Interest revenue earned  Is not adjusted in bank balance  They are adjusted in the books. 12.…

Q: Which of the following statements is correct? If the note is issued at a discount, the interest…

A: On the discount issue, the bond price is lower than its face value. The coupon amount (i.e. Interest…

Q: For each timing difference listed, identify whether the difference would be reported on the book…

A: Bank Reconciliation refers to the comparison of bank and book statements to make sure that both show…

Q: The following items may appear on a bank statement: 1.  Bank correction of an error from recording…

A: Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash…

Q: If a bank reconciliation included a deposit in transit of $790, the entry to record thisreconciling…

A: Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…

Q: QUESTION 16 Which of the following items found on a bank reconciliation does NOT require an…

A: Dear student,  Since you have specified Question #16 to be answered, I am posting the answer for the…

Q: The proper treatment of outstanding cheques Is to report them in the bank reconcillation as which of…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Prepare a Bank Reconciliation Statement using: a. Adjusted Balance Method b. Book to Bank Method…

A: Bank reconciliation statement is a statement prepared  to reconcile or agree the bank balance as…

Q: Which one of the following is classified as a cash or cash equivalent? Select one: a. Prepaid…

A: Cash and cash equivalent means that highly liquid assets which can be converted in to known amount…

Q: Identify where each of the following transactions would be found on the bank reconciliation by…

A: The adjustments are made to bank and book side for the transactions that needed to be adjusted.  The…

Q: In the bank reconciliation the collection of Note Receivable is Select one: a. Deducted from Cash…

A: Accounting is the process of recording financial transactions that are material to the business. It…

Q: Accompanying the bank statement was a debit memo for bank service charges.  On the bank…

A: Bank service charge: Bank service charge is charges levied by the bank for the services provided or…

Q: Identify where each of the following transactions would be found on the bank reconciliation by…

A: Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash…

Q: Which one of the following would not appear on a bank statement for a chequing account? a.Deposits…

A: Deposits in transit: Deposit in transit means the money received by a company and recorded in the…

Q: What is “Deposit in transit” in bank reconciliation?   Select one: A. Subtracted From the Cash…

A:

Q: QUESTION 16 Which of the following items found on a bank reconciliation does NOT require an…

A: Deposit in transit since the amount is already recorded in the company accounts no adjusting entry…

Q: After preparing a bank reconciliation, the service fee charged by the bank would be recorded with a:…

A: Service fees expense is charged each month for management of bank account.

Q: For each of the items in the following list, identify where it is included on a bank reconciliation.…

A: Bank reconciliation: Bank reconciliation is a statement which is prepared to reconcile the cash…

Q: Identifying timing differences related to a bank reconciliation For each timing difference listed,…

A: Timing differences: When accounting records are maintained by both bank and business, time interval…

Q: A note receivable bearing a reasonable interest rate is sold to a bank with recourse. The note…

A: If the notes receivable have been discounted with recourse, the contra asset would be recognized in…

Q: How would this payment be adjusted in the bank reconciliation

A: Bank reconciliation statement is prepared to figure the difference between balance as per bank…

Q: The following items may appear on a bank statement: 1. Bank correction of an error from posting…

A:

Q: The following items may appear on a bank statement: Bank correction of an error from recording a…

A: Bank Reconciliation Statement is an account prepared to match the balances as per cash book of the…

Q: Bank Correction of an error from posting another customer’s check (disbursement) to the company’s…

A: A customer's account balance is increased by a credit memo items and reduced by a debit memo.

Q: An adjusting entry is required for: Select one © a. Deposit în transit. O b. Outstanding checks O…

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to…

Q: method of preparing bank reconciliation wherein the bank balance is adjusted to agree with the book…

A: A bank reconciliation statement is prepared by management at a certain time period. It is used to…

Q: Which one is the correct formula for BRS Select one: O a. Balance as per Books- Interest Income from…

A: BRS is a statement that compares the cash balance on a company’s balance sheet.

Q: a. Prepare a bank reconciliation at June 30. b. Prepare the necessary journal entries to bring the…

A: Journal entries shows the recording of transactions during an accounting year as every transaction…

Q: In the reconciliation of a bank statement, "deposits in transit" should be: a. added to the…

A: Deposits in transit are the amount of cash that has been deposited by the business but has not been…

Q: Which will not require an adjusting entity on the depositor's books? a. Check in payment of…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: Items on company’s bank statement  a) Bank Correction of an error from posting another customer’s…

A: A credit memo results to an increase in account balance of the customer whereas a debit memo results…

Q: Which of the following will NOT require an adjusting entry when reconciling the bank statement? O…

A: Bank reconciliation is a statement prepared to match bank account balance as per cash book and bank…

Q: Which of the following is a book reconciling item? a.notes receivable collected by the bank b.cash…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…

Q: Items on Company's Bank Statement The following items may appear on a bank statement: 1.  Bank…

A: Bank statement credit memo: Bank statement credit memo is an item enclosed on the bank statement…

Q: Method of preparing bank reconciliation wherein the balance per bank and per book is separately…

A: The bank reconciliation statement is prepared to equate the balance of cash book and pass book with…

Q: . Which will not require an adjusting entry on the depositor’s books?      a. NSF check from…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…