Reference no: EM132472183
Question 1: The following items may appear on the bank statement
1. Bank correction of an error from recording a $6,200 deposit as $2,600
2. EFT payment
3. Note collected from the company
4. Service charge
Using the following format indicate whether each item would appear as a debit or credit memo on the bank statement and weather the item would increase or decrease the balance of the company's account.
Item number, Appears on the bank statement as a debit or credit memo, Increase or decrease the balance of the company's bank account
Question 2: Explain what types of transactions would require an addition to a bank statement when performing a bank reconciliation.
a) would require a deduction to a bank statement...
b) would require an addition to a company's statement...
c) would require a deduction to a company's statement...
Question 3: The following data were generated to use the reconciling the bank account of eves company
Balance per bank $9,350
Balance per company records 8,510
Bank service charges 35
Deposit in transit 2,350
NSF checks 1,875
Outstanding checks 5,100
Question 3 a) What is the adjusted balance on the bank reconciliation?
Question 3. b) Journalize any necessary entries for eves company based on the bank reconciliation.
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