College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Question
Chapter 6, Problem 2QY
To determine
Find the correct option, the option that does not affect the bank statement.
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Check out a sample textbook solutionStudents have asked these similar questions
a. Is the bank reconciliation a journal, a ledger, an account, or a financial statement? If it is none of these, what is it?
multiple choice question
a.The difference between the bank statement balance and the balance in Bank account in the general ledger may be due to:
unpresented payments.
outstanding receipts.
errors done by the bank and the entity.
all of the choices given.
Which of the following is supported with a debit memorandum?
a.proceeds of bank loan
b.collections already forwarded to the bank for deposit but too late to appear in the bank statement
c.matured time deposits transferred by bank to the current account
d.notes receivable collected by the bank in favor of the depositor
e.charges for penalty
Chapter 6 Solutions
College Accounting (Book Only): A Career Approach
Ch. 6 - Prob. 1QYCh. 6 - Prob. 2QYCh. 6 - Which of the following does not explain the...Ch. 6 - What is the journal entry to record an NSF check,...Ch. 6 - Prob. 5QYCh. 6 - Prob. 6QYCh. 6 - Prob. 7QYCh. 6 - Prob. 8QYCh. 6 - Prob. 1DQCh. 6 - Prob. 2DQ
Ch. 6 - Prob. 3DQCh. 6 - Prob. 4DQCh. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - a. Why would a business use a Petty Cash Fund? b....Ch. 6 - Prob. 8DQCh. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Prob. 7ECh. 6 - a. Describe the entries that have been posted to...Ch. 6 - Prob. 1PACh. 6 - Prob. 2PACh. 6 - Prob. 3PACh. 6 - Prob. 4PACh. 6 - Prob. 5PACh. 6 - Prob. 1PBCh. 6 - Prob. 2PBCh. 6 - Prob. 3PBCh. 6 - Prob. 4PBCh. 6 - Prob. 5PBCh. 6 - Prob. 1ACh. 6 - Prob. 2ACh. 6 - You work as a cashier for a service business. Some...
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Similar questions
- What should be done if differences are found between the bank statement and the book account?arrow_forwardWhich of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bankarrow_forwardWhich of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transitarrow_forward
- Which of the following items does NOT cause a difference in the bank balance and the book balance on a bank reconciliation? a. Nonsufficient funds checks b. Deposits in transit c. Canceled checks d. Outstanding checksarrow_forwardWhich of the following reconciling items may not result from bank side reccords of a bank account? a. Outstanding deposits b. Outstanding checks C. Errors made by bank accountant d. Non Sufficient Funds checksarrow_forwardDebit order is an example of an adjusting difference. True or False Bank understates a deposit on the bank statement is an example of a timing difference. True or Falsearrow_forward
- What are mistakes committed by the drawer? A. Bank errors B. Book errors C. Deposit in transit D. NSF Checkarrow_forwardDeposits made by a company but not yet reflected in a bank statement are called: a.Credit memoranda. b.Deposits in transit. c.Debit memoranda. d.None of these choices are correct.arrow_forwardIf credit side of a bank account is greater than debit side, it indicates: A. Bank overdraft B. Cash at bank C. Bank balance D. Current assetarrow_forward
- Which of the following will NOT require an adjusting entry when reconciling the bank statement? Interest earned Outstanding checks O NSF check from customer Bank service chargesarrow_forwardA prenumbered document that tells the bank to pay the designated party a specific amount is a A. check B. deposit ticket C. routing number D. remittance advicearrow_forward
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