FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Roger Richman owns Richman Blankets.

He asks you to explain how he should treat the following reconciling items when reconciling the company’s bank account. Choose the answer on the right.

1.   Outstanding checks.  
 Add to balance per bank/Deduct from balance per books/Add to balance per books/Deduct from balance per bank
2.   A deposit in transit.  
 Add to balance per books/Deduct from balance per books/Deduct from balance per bank/Add to balance per bank
3.   The bank charged to the company account a check written by another company.  
 Add to balance per bank/Deduct from balance per books/Add to balance per books/Deduct from balance per bank
4.   A debit memorandum for a bank service charge.  
 Add to balance per books/Deduct from balance per bank/Add to balance per bank/Deduct from balance per books
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