Identify whether each of the following items would be (a) added to the book balance, (b) deducted from the book balance in a bank reconciliation, (c) added to the bank balance, or (d) deducted from the bank balance. 1. Deposits in transit Deducted from the bank balance Deducted from the book balance 2. Bank service charge Added to the book balance Added to the bank balance 3. Collection of note and interest by bank on company's behalf 4. NSF check Outstanding checks 5.

After preparing a bank reconciliation, journal entries are necessary to record Bank service charges Deposits in transit Outstanding checks Both B and C are correct A, B, and C are correct

In a bank reconciliation, an EFT cash payment is A. added to the bank balance in the general ledger B. deducted from the bank balance on the bank statement C. added to the bank balance on the bank statement D. deducted from the bank balance in the general ledger

Indicate whether each transaction would require an adjustment to the bank balance or the book balance when reconciling cash. Interest earned on the cash balance per the bank Choose. statement Minimum balance bank fee charged on the bank Choose. statement Collecton on a note from a customer as indicated on the Choose. bank statement NSF check received from a customer as revealed on the Choose. bank statement Outstanding checks Choose. Bank service charge on the bank statement Choose.

Which one of the following items requires an adjustment on the bank side of the bank​ reconciliation?         A. interest earned   B. a bank service charge   C. a note collected by the bank   D. deposits in transit

In the reconciliation of a bank statement, "deposits in transit" should be:a. added to the unadjusted book balanceb. subtracted from the unadjusted bank balancec. added to the unadjusted bank balanced. subtracted from the unadjusted bank balance

Do items reported as a credit memorandum on the bank statement represents (a) additions made by the bank to the company’s balance or (b) deductions made by the bank from the company’s balance? Explain.

When a company records a bank deposit, it will: O A. credit the Cash account on the company's books. O B. debit the Accounts Receivable account on the company's books. OC. debit the Cash account on the company's books. O D. credit the Accounts Payable account on the company's books.

What item on the bank statement that may differ from the company's financial records.      NSF check      interest earned      outstanding checks      service charge

When journal entries for items in the Ledger Balance of Cash section of the bank reconciliation are made, the additions are: a.credited to the Capital account. b.debited to the Capital account. c.debited to the Cash account. d.credited to the Cash account.