Homework Help is Here – Start Your Trial Now!
Business
Accounting
A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. The company made a month-end accrual for expired insurance coverage. 2. Checks written and mailed to payees on October 2 3. Night deposit made on September 30 after the bank closed. 4. Checks outstanding on August 31 that cleared the bank in September. 5. Bank service charge for September is not yet recorded by the company 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Bank fees for check printing are not yet recorded by the company. 8. Bank service charge. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT 10. Interest eamed on the September cash balance in the bank is not yet recorded by the company 11. Deposit made on September 5 and processed by the bank on September 6. 12. Checks written by another depositor but mistakenly charged against this company's account. Bank Balance NA NA Subtract NA NA Add Subtract NA Subtract Book Balance Add Debit Credit Credit Debit Shown or Not Shown on Reconciliation Shown Shown Shown Shown Shown

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. The company made a month-end accrual for expired insurance coverage. 2. Checks written and mailed to payees on October 2 3. Night deposit made on September 30 after the bank closed. 4. Checks outstanding on August 31 that cleared the bank in September. 5. Bank service charge for September is not yet recorded by the company 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Bank fees for check printing are not yet recorded by the company. 8. Bank service charge. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT 10. Interest eamed on the September cash balance in the bank is not yet recorded by the company 11. Deposit made on September 5 and processed by the bank on September 6. 12. Checks written by another depositor but mistakenly charged against this company's account. Bank Balance NA NA Subtract NA NA Add Subtract NA Subtract Book Balance Add Debit Credit Credit Debit Shown or Not Shown on Reconciliation Shown Shown Shown Shown Shown

Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter6: Cash And Internal Control
Section: Chapter Questions
Problem 6.3E
See similar textbooks
icon
Related questions
Question

Cop

Exercise 6-11 (Algo) Bank reconciliation and adjusting entries LO P3 A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. The company made a month-end accrual for expired insurance coverage. 2. Checks written and mailed to payees on October 2. 3. Night deposit made on September 30 after the bank closed. 4. Checks outstanding on August 31 that cleared the bank in September. 5. Bank service charge for September is not yet recorded by the company 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Bank fees for check printing are not yet recorded by the company. 8. Bank service charge. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT 10. Interest earned on the September cash balance in the bank is not yet recorded by the company. 11. Deposit made on September 5 and processed by the bank on September 6. 12. Checks written by another depositor but mistakenly charged against this company's account. Bank Balance NA NA Subtract NA NA Add Subtract NA Book Balance Subtract Add Debit Credit Credit Debit Shown or Not Shown on Reconciliation Shown Shown Shown Shown Shown
Transcribed Image Text:Exercise 6-11 (Algo) Bank reconciliation and adjusting entries LO P3 A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation. Note: Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable. Item 1. The company made a month-end accrual for expired insurance coverage. 2. Checks written and mailed to payees on October 2. 3. Night deposit made on September 30 after the bank closed. 4. Checks outstanding on August 31 that cleared the bank in September. 5. Bank service charge for September is not yet recorded by the company 6. NSF check from a customer is shown on the bank statement but not yet recorded by the company. 7. Bank fees for check printing are not yet recorded by the company. 8. Bank service charge. 9. The bank received an electronic funds transfer (EFT) and deposited the amount in the company's account on September 30. The company has not yet recorded this EFT 10. Interest earned on the September cash balance in the bank is not yet recorded by the company. 11. Deposit made on September 5 and processed by the bank on September 6. 12. Checks written by another depositor but mistakenly charged against this company's account. Bank Balance NA NA Subtract NA NA Add Subtract NA Book Balance Subtract Add Debit Credit Credit Debit Shown or Not Shown on Reconciliation Shown Shown Shown Shown Shown
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Bank reconciliation statement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Corporate Financial Accounting
Corporate Financial Accounting
Accounting
ISBN:
9781305653535
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage
SEE MORE TEXTBOOKS