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5 EX 7-22 Bank reconciliation 1 Identify each of the following reconciling items as (a)...

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Accounting

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5 EX 7-22 Bank reconciliation 1 Identify each of the following reconciling items as (a) an addition to the cash balance according to the bank statement, (b) a deduction from the cash balance according to the bank statement, (c) an addition to the cash balance according to the company's records, or (d) a deduction from the cash balance according to the company's records. (None of the transactions reported by bank debit and credit memos has been recorded by the company.) 1. Bank service charges, $15. 2. Cheque drawn by company for $160 but incorrectly recorded as $610. 3. Cheque for $500 incorrectly charged by bank as $5,000. 4. Cheque of a customer returned by bank to company because of insufficient funds (NSF), $3,000 5. Deposit in transit, $15,500. 6. Outstanding cheques, 59,600. 7. Note collected by bank, $10,000

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