. Which will not require an adjusting entry on the depositor’s books? a. NSF check from customer b. Check in payment of account payable amounting to P50,000 is recorded by the depositor as P5,000 c. Deposit of another entity credited to the account of the depositor d. Bank service charge

. Which will not require an adjusting entry on the depositor’s books? a. NSF check from customer b. Check in payment of account payable amounting to P50,000 is recorded by the depositor as P5,000 c. Deposit of another entity credited to the account of the depositor d. Bank service charge

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5DQ

See similar textbooks

Related questions

Q: Question Description Lincoln Company accepted a check for $1.675 from a customer for a cash purchase…

A: The bank reconciliation statement is prepared to adjust the bank balance and cash book balance to…

Q: 2. Prepare any journal entries that should be made as a result of the bank reconciliation. (If no…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Instructions: (1) Prepare the bank reconciliation at September 30. (ii) Prepare the adjusting…

A: (i) Prepare reconciliation statement at September 30:

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: A cheque in the amount of $455 was returned by the bank marked "NSF". A bank service fee of $15 was…

A: As per relevant accounting principles, in case of cheque returned due to non-sufficient funds in the…

Q: From the following particulars of Al Zahra LLC, prepare bank reconciliation statement as on Oct 31,…

A: Banks provide statements on deposit accounts to assist a company in performing bank…

Q: comparison, the following items of differences were found with pass book. On 30th June 2018 the cash…

A: Note:We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430.…

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

Q: 3. Prepare journal entries for items (a)-() from the bank reconciliation. (If no entry ls required…

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

Q: Han's Supples' bank statement contalned a $320 NSF check that one of Its customers had written to…

A: Note: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts…

Q: A cheque received from a debtor on 31 January 2018 was credited into the bank on 29 March 2018.…

A: Bank: It is a financial institution. It accepts deposits from and provides loan to the public.…

Q: A check drawn by a company for $340 in payment of a liability was recorded in the journal as $430.…

A: Bank reconciliation statement refers to a financial statement which showcases a detailed summary of…

Q: -As on 30 April the Bank statement of CAT LLC reports a bank balance of RO 6,250, without recording…

A: A bank reconciliation statement can be defined as the statement of summary of the activities that…

Q: ABC Company's newly hired assistant prepared the following bank reconciliation on December 31, 2021:…

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

Q: 2. Amoako's cash book showed an overdrawn balance of GHS3,000 on 31 December, 2012 on his current…

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

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: 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: An adjusting entry is required for: Select one: a. Deposit in transit. O b.Outstanding checks. O c…

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

Q: What entry is required in the company's accounts to record outstanding checks? Select one: A. no…

A: Outstanding checks - Outstanding Checks are written but not received yet, not cleared, Cash has not…

Q: As on 31 May 2005 the deposits awaiting clearance is RO18,240 and cheques yet to be presented for…

A: Balance as per cash book RO9480 Balance as per cash book RO9480 Less: cheque deposited but not…

Q: As on 31 July the Pass book reports a bank balance of RO 6,250, without recording a credit transfer…

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

Q: Requirement: Prepare adjusting entries

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: 14) If a check correctly written and paid by the bank for ¥4,910 is incorrectly recorded on the…

A: The bank reconciliation statement helps to reconcile the balances of cash book and pass book to make…

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

A: Bank reconciliation statement: Bank statement is prepared by the bank. The company maintains its own…

Q: On June 30, the check register balance is $391.04. The service charge is $4.10, and interest earned…

A: A bank Reconciliation statement is a report that is prepared to know the differences between…

Q: A cash receipt that the business has added to its cash account,but that the bank has not added to…

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

Q: The bank erroneously charged tropical services account for dollar 45050 for a check that was…

A: A service account is a user account created particularly to provide a security context for Windows…

Q: Assume that Arkan Majan International LLC sold goods to its customer on credit for OMR 2500 and…

A: Bank reconciliation: It is a statement which is prepared to reconcile the balance as per cash book…

Q: 39-As on 31 May 2005 the deposits awaiting clearance is RO18,240 and cheques yet to be presented for…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: Required: 1. Prepare a bank reconciliation for Oscar's checking account on February 28, 2021.…

A: Bank reconciliation statement is the checking statement which helps to balance the year ending…

Q: In preparing its March 31, 2020 bank reconciliation, Blue Devil Inc. has available the following…

A: Bank Reconciliation: A bank reconciliation is the process of matching the balances in an entity's…

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: Write the word "True" if the statement is correct and "False" if it is incorrect. 1. Debit memos are…

A: "Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Question 8 options: NSF check Bank charges Outstanding checks Error in recording a check…

A: SOLUTION- BANK RECONCILIATION STATEMENT- IT IS A RECORD BOOK OF THE TRANSACTIONS OF BANK ACCOUNT. IT…

Q: The following information pertains to Sandhill Corporation. 1. Balance per bank, July 31, $8,802.…

A: BRS stands for Bank reconciliation. BRS is a statement that is prepared to reconcile the balance as…

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: 7) Adjusting entries are made: A) For the differences between the bank statement cash balance and…

A: Adjusting entries are made for the differences between the bank statement cash balance and adjusted…

Q: The bank sends you a memorandum informing you that they have increased the balance of your…

A: Since you have asked multiple question,we will give answer to the first question for you as per…

Q: 7. The following information pertains to Mekka Company. a. Cash balance as per bank, July 31, RO…

A: Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

Q: a. What is the adjusted balance on the bank reconciliation? $ Feedback b. Journalize any necessary…

A: Bank reconciliation statement: Bank reconciliation statement can be defined as the statement…

Question

6. Which will not require an adjusting entry on the depositor’s books?

a. NSF check from customer

b. Check in payment of account payable amounting to P50,000 is recorded by the depositor as P5,000

c. Deposit of another entity credited to the account of the depositor

d. Bank service charge

Definition Definition Entries made at the end of every accounting period to precisely replicate the expenses and revenue of the current period. This is also known as end of period adjustment. It can also refer to financial reporting that corrects errors made previously in the accounting period. Every adjustment entry affects at least one real account and one nominal account.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1 Introduction

VIEW

Step 2 Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Which of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bank
When a business borrows money from a bank on a non-interest-bearing note, how are the bank discount and proceeds calculated?
Prepare the journal entry to reconcile the bank statement in EA7.
Match the following words with their definitions by entering the correct number in the spaces below. 1.deposit ticket 2.ATM 3.check 4.bank statement 5.blank endorsement _____ a.A document ordering a bank to pay cash from a depositors account. _____ b.An endorsement where the payee simply signs the back of the check, making the check payable to any bearer. _____ c.Automated teller machinea machine used by depositors to make withdrawals or deposits at any time. _____ d.A statement of account issued by a bank to each depositor once a month. _____ e.A form showing a detailed listing of items being deposited.
Which will not require an adjusting entity on the depositor's books? a. Check in payment of accounts payable amounting to P100,000 is recorded by depositors as P10,000 b. Bank service charge c. NSF check from depositor d. Deposit of another entity is credited to the account of the depositor
Which of the following items on a bank reconciliation would require an adjusting journal entry on the company's books? Multiple Choice An error by the bank. Outstanding cheques. A bank service charge. A deposit in transit. Prev 36 of 50 Next >
a) Bank Correction of an error from posting another customer’s check (disbursement) to thecompany’s account.b) EFT depositc) Loan proceedsd) NSF checkUsing the format shown below, indicate whether each item would appear as a debit or credit memoon the bank statement and whether the item would increase or decrease the balance of thecompany’s account. Increases or Decreases theAppears on the Bank Statement Balance of the company’sItem No. as a Debit or Credit Memo Bank Account______________________________________________________________________________
Which of the following will NOT require an adjusting entry when reconciling the bank statement? Interest earned Outstanding checks O NSF check from customer Bank service charges
IV. Direction: Determine if the bank transaction is to be shown on the debit side or credit side of bankstatement. Write DEBIT or CREDIT on the blank before the number. __________1. NSF check.__________2. Interest on depositor’s account.__________3. Cancelled check.__________4. Deposits made by depositor.__________5. Check booklet fee.__________6. Payment made by debtor to the account of depositor.__________7. Notes collected by bank for the account of depositor.__________8. Bank service charge.__________9. Check from customer honored by bank._________10. Check issued by depositor honored by bank
Match each item to a bank statement adjustment, a company books adjustment, or either. Question 8 options: NSF check Bank charges Outstanding checks Error in recording a check Interest revenue Deposit in transit Note collected by the bank 1. bank statement adjustment 2. company books adjustment 3. either
Items on company’s bank statement a) Bank Correction of an error from posting another customer’s check (disbursement) to thecompany’s account.b) EFT depositc) Loan proceedsd) NSF checkUsing the format shown below, indicate whether each item would appear as a debit or credit memoon the bank statement and whether the item would increase or decrease the balance of thecompany’s account. Increases or Decreases theAppears on the Bank Statement Balance of the company’sItem No. as a Debit or Credit Memo Bank Account
A debit order of R1500 for payment of rates will appear in ____________during the bank reconciliation process