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Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
FindFindarrow_forward

Principles of Accounting Volume 1

19th Edition
OpenStax
Publisher: OpenStax College
ISBN: 9781947172685
Chapter 8, Problem 7PA
Textbook Problem
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Identify where each of the following transactions would be found on the bank reconciliation.

Chapter 8, Problem 7PA, Identify where each of the following transactions would be found on the bank reconciliation. Table

Table 8.1

To determine

Concept introduction:

Bank Reconciliation:

Bank reconciliation is the process in which the entity reconciles its cash entries in accounts with the entries in bank statement issued by the bank. The entity prepares bank reconciliation statement and it has two sides; Bank Side and Cash side.

To indicate:

The effect of transactions on the bank reconciliation.

Explanation of Solution

The effect of transactions on the bank reconciliation is explained as follows:

Transaction Increase to Bank Side Decrease to Bank Side Increase to Book Side Decrease to Book Side
Outstanding Check X

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Chapter 8 Solutions

Principles of Accounting Volume 1
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