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.

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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

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.
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