Chapter 5.3, Problem 1AYU

If a check correctly written and paid by the bank for $512 is incorrectly recorded in the company's books for $443, how should this error be treated on the bank reconciliation?

8. Which of the following statement is false?    a. A certified check is a liability of the bank certifying it b. A certified check will be accepted by many persons who would not otherwise accept a personal check c. A certified check is one drawn by a bank upon itself d. A certified check should not be included in the outstanding checks

Which of the following would be added to the balance per books on a bank reconciliation?   Question 15 options:   service charges   outstanding checks   deposits in transit   notes collected by the bank

13 -   Which of the following transactions does the above record belong to ?      a) Giving the checks received as collateral  B) Payment of checks received  NS) Getting a loan by endorsing the check  D) Withdrawing a loan from the bank  TO) The endorsement of the received check against the bank loan debt

In preparing a bank reconciliation, what is the proper treatment of an outstanding check?