This Question: 1 pt The following items could appear on a bank reconciliation a. Outstanding...

70.2K

Verified Solution

Question

Accounting

image

This Question: 1 pt The following items could appear on a bank reconciliation a. Outstanding checks, $670 b. Deposits in transit, $1,500 NSF check from customer, no. 548, for $175 d. Bank collection of note receivable of $800, and interest of $80 e Interest earned on bank balance $20 1. Service charge $10 o. The business credited Cash tfor $200 The correct amount was $2,000 h. The bank incorrectly decreased the business's by $350 for a check written by another business d. Classify each item as (1) an addition to the book balance. (2) a subtraction tom the book balance-G) an addition to the bank balance, or (4) a subtraction from the bank balance

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students