Homework Help is Here – Start Your Trial Now!
Business
Accounting
Deposits in transit at end of period Cheques recorded on this period's bank statement

Deposits in transit at end of period Cheques recorded on this period's bank statement

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter7: Accounting For Cash
Section: Chapter Questions
Problem 2CE
See similar textbooks
icon
Related questions
Question
Indicate how each of the following items would be included on a bank reconciliation. Deposits in transit at end of period Cheques recorded on this period's bank statement Company cheque recorded incorrectly as $400 that cleared the bank in the correct amount of $350 Interest earned on bank account during the period EFT payments from customers Deposits recorded in the company's books this period that were also recorded on this period's bank statement Bank processed deposit of $649 as $969 in error Bank charges that appear on the bank statement Bank correction of an error from the prior period EFT payment for equipment rental Increase balance per bank Increase balance per books Decrease balance per bank Decrease balance per books Not included
Transcribed Image Text:Indicate how each of the following items would be included on a bank reconciliation. Deposits in transit at end of period Cheques recorded on this period's bank statement Company cheque recorded incorrectly as $400 that cleared the bank in the correct amount of $350 Interest earned on bank account during the period EFT payments from customers Deposits recorded in the company's books this period that were also recorded on this period's bank statement Bank processed deposit of $649 as $969 in error Bank charges that appear on the bank statement Bank correction of an error from the prior period EFT payment for equipment rental Increase balance per bank Increase balance per books Decrease balance per bank Decrease balance per books Not included
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Bank reconciliation statement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
SEE MORE TEXTBOOKS