Financial Accounting (12th Edition) (What's New in Accounting)
12th Edition
ISBN: 9780134725987
Author: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Publisher: PEARSON
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Chapter 4, Problem 4.35Q
To determine
To find: The correct option, the action which describes about the check that was recorded as under-deposited, while bank reconciliation
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If a bookkeeper mistakenly recorded a $73 deposit as $37, the error would be shown on the bank reconciliation as a
O A. $36 deduction from the book balance.
O B. $37 addition to the book balance.
O C. $36 addition to the book balance.
O D. $37 deduction from the book balance.
If a bookkeeper mistakenly recorded a $73 deposit as $37, the error would be shown onthe bank reconciliation as aa. $36 deduction from the book balance.b. $37 addition to the book balance.c. $36 addition to the book balance.d. $37 deduction from the book balance
If the company's accountant mistakenly recorded an $71 deposit as $111, the error would be shown on the bank reconciliation as a(n):
Multiple Choice
$40 addition to the book balance.
$111 addition to the book balance.
$40 deduction from the book balance.
$111 deduction from the book balance.
Chapter 4 Solutions
Financial Accounting (12th Edition) (What's New in Accounting)
Ch. 4 - Prob. 1QCCh. 4 - Prob. 2QCCh. 4 - Prob. 3QCCh. 4 - Prob. 4QCCh. 4 - Prob. 5QCCh. 4 - Prob. 6QCCh. 4 - Prob. 7QCCh. 4 - Why does cash require some specific internal...Ch. 4 - Prob. 9QCCh. 4 - Prob. 10QC
Ch. 4 - Prob. 11QCCh. 4 - Prob. 12QCCh. 4 - Prob. 4.1ECCh. 4 - Prob. 4.1SCh. 4 - Prob. 4.2SCh. 4 - (Learning Objective 2: Describe objectives and...Ch. 4 - Prob. 4.4SCh. 4 - (Learning Objective 2: Explain the objectives and...Ch. 4 - (Learning Objective 3: Evalue internal controls...Ch. 4 - Prob. 4.7SCh. 4 - Prob. 4.8SCh. 4 - Prob. 4.9SCh. 4 - Prob. 4.10SCh. 4 - Prob. 4.11SCh. 4 - Prob. 4.12SCh. 4 - Prob. 4.13SCh. 4 - Prob. 4.14SCh. 4 - Prob. 4.15AECh. 4 - Prob. 4.16AECh. 4 - Prob. 4.17AECh. 4 - Prob. 4.18AECh. 4 - Prob. 4.19AECh. 4 - Prob. 4.20AECh. 4 - Prob. 4.21AECh. 4 - Prob. 4.22BECh. 4 - Prob. 4.23BECh. 4 - Prob. 4.24BECh. 4 - (Learning Objectives 1, 2, 3: Describe fraud and...Ch. 4 - Prob. 4.26BECh. 4 - Prob. 4.27BECh. 4 - Prob. 4.28BECh. 4 - Prob. 4.29QCh. 4 - Prob. 4.30QCh. 4 - Prob. 4.31QCh. 4 - Prob. 4.32QCh. 4 - Prob. 4.33QCh. 4 - Prob. 4.34QCh. 4 - Prob. 4.35QCh. 4 - Prob. 4.36QCh. 4 - Prob. 4.37QCh. 4 - Prob. 4.38QCh. 4 - Prob. 4.39QCh. 4 - Prob. 4.40QCh. 4 - Prob. 4.41APCh. 4 - Prob. 4.42APCh. 4 - Prob. 4.43APCh. 4 - Prob. 4.44APCh. 4 - Prob. 4.45BPCh. 4 - (Learning Objectives 2, 3: Explain the objectives...Ch. 4 - (Learning Objective 3: Evaluate internal controls)...Ch. 4 - Prob. 4.48BPCh. 4 - Prob. 4.49CEPCh. 4 - Prob. 4.50CEPCh. 4 - Prob. 4.51SCCh. 4 - Prob. 4.52DCCh. 4 - Prob. 4.53DCCh. 4 - Prob. 4.54EICCh. 4 - Prob. 1FFCh. 4 - Prob. 1FA
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- If a bookkeeper mistakenly records a disbursement as $69 instead of the correct amount of $96, the error should be shown on the bank reconciliation as a: OA. $27 addition to the balance per books. O B. $165 deduction from the balance per books. O C. $27 deduction from the balance per books. O D. $165 addition to the balance per books. Click to select your answer. 11:59pm 99+arrow_forwardIn a bank reconciliation, an outstanding check isa. deducted from the book balance.b. deducted from the bank balance.c. added to the bank balance.d. added to the book balance.arrow_forwarda) 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______________________________________________________________________________arrow_forward
- An adjusting entry is required for: Select one: a. Deposit in transit. O b.Outstanding checks. O c Bank errors. O d. Collection of a note by the bank.arrow_forwardThe bookkeeper recorded a deposit of $100 as $10. On the bank reconciliation, this will be a(n): O A. addition of $90 to the balance per books. O B. addition of $90 to the balance per bank. O C. subtraction of $90 to the balance per books. O D. subtraction of $90 from the balance per bank.arrow_forwardFor which of the following errors would the appropriate amount be added to the balance per books on a bank reconciliation? Deposit of $770 recorded by the bank as $77. O Check written for $73, but recorded by the company as $37. O A returned $470 check recorded by the bank as $47. Check written for $57, but recorded by the company as $75.arrow_forward
- True or False. 13. Deposit in transit is a reconciling item added to the unadjusted book balance.14. Outstanding check is a reconciling item deducted from the unadjusted bank balance.15. Adjusting journal entries are prepared based on the reconciling items on the bank side of the bank reconciliation.arrow_forwardIn the reconciliation of the June bank statement, a deposit made on June 30 did not appear on the June bank statement. How is this deposit in transit shown on the bank reconciliation? Multiple Choice O O Added to the unadjusted bank balance. Subtracted from the unadjusted bank balance. Added to the unadjusted book balance. Subtracted from the unadjusted book balance.arrow_forwardIf a bank reconciliation included a deposit in transit of $790, the entry to record thisreconciling item would includea. a credit to Cash for $790.b. a credit to Prepaid insurance for $790.c. a debit to Cash for $790.d. No entry is requiredarrow_forward
- In a bank reconciliation, a deposit in transit is A. deducted from the bank balance on the bank statement B. added to the bank balance in the general ledger C. added to the bank balance on the bank statement D. deducted from the bank balance in the general ledgerarrow_forwardIn a bank reconciliation, to adjust for a customer's NSF check requires: reducing the bank balance by the amount increasing the bank balance by the amount reducing the book balance by the amount increasing the book balance by the amountarrow_forwardWhich 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 >arrow_forward
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