Homework Help: accounting

Posted by anonymous on Friday, April 10, 2009 at 5:37pm.

indicate whether the following items in a bank reconciliation should be: A)Added to the check book blance B) DEDUCTED FROM THE CHECKBOOK C)added to the bank statement balance D) deducted from the bank statement balance 1) outstanding deposit of 1,200 is a,b,c,or,d. i think b or d. 2)an nsf check from customer anne campbell for 52 dollars. i think its c,if wrong please correct. 3)an outstanding check for $185 wriiten to cole relity. i think its a. 4)the monthly service charge $15 . i think its d. 5) a bank error charging the firms account with another companys check.i think its d or b. please correct if im wrong by putting the right multiple choice thank you so much i apprecite the help.

accounting - SraJMcGin, Friday, April 10, 2009 at 6:32pm
1. Think again. You have received money = a, c It is a positive thing for y ou.

2. This is a negative thing for you. nsf = non sufficient funds; in other words the check is no good. b & d

3. You wrote the check but apparently it has not been cashed. d

4. This is a fee you must pay the bank for handling your account. b (you probably will write them a check) & d (they may just debit your account.

5. Actually the bank did d when they should not have. Once the bank realizes the mistake, it will be both a and c.

Once you have your own account, you will understand much better!

Sra
accounting - SraJMcGin, Friday, April 10, 2009 at 8:09pm
P.S.

1. A deposit will be on your bank statement (c).

2. The bank will know when it is nsf so they will not even have it on the bank statement. If you had entered it in your checkbook, YOU will have to deduct it (b).

5. The bank will have to do (c) to return the funds to y ou.

Sra

Answer this Question

Related Questions

accounting srajmcgain - indicate whether the following items in a bank ...
accounting - indicate whether the following items in a bank reconciliation ...
Accounting - A deposit of $1,250 that was incorrectly in the checkbook as 1,200 ...
accounting - 1)the monthly service chrage of $15. is it b)deducted from the ...
accounting srajmcgain thank you - 1)the monthly service chrage of $15. is it b)...
accounting - Can anyone let me know if I have these correct and if not what am I...
accounting - Can anyone let me know if I have these correct and if not what am I...
acc - Can anyone let me know if I have these correct and if not what am I doing ...
I need help answering this Accounting question!? - Bluejay Corp. prepared a bank...
Accounting - Need help with this bank reconciliation...this is actually for a ...

For Further Reading

First Name:
School Subject:
Answer: