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Determine the an addition to the cash balance

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Reference no: EM132473638

Bank Reconciliation

Identify each of the following reconciling items as:

Question 1: an addition to the cash balance according to the bank statement

Question 2: a deduction from the cash balance according to the bank statement

Question 3: an addition to the cash balance according to the company's records

Question 4: a deduction from the cash balance according to the company's records

  • (None of the transactions reported by bank debit and credit memos have been recorded by the company.)

Item Treatment

1. Bank service charges, $30. _____?

2. Check of a customer returned by bank to company because of insufficient funds, $400. _____?

3. Check for $320 incorrectly recorded by the company as $230. _____?

4. Check for $1,100 incorrectly charged by bank as $110. _____?

5. Deposit in transit, $3,300. _____?

6. Outstanding checks, $7,950. ______?

7. Note collected by bank, $10,500. _____?

Reference no: EM132473638

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