Question: a) audit b) electronic funds transfer c) check d) bank statement e) deposit in transit f) non sufficient funds check g) bank reconciliation h) internal control i) petty cash j) firewalls ____________ Organizational plan and integrated framework that managers use to keep the business under control ____________ A Read more…
Question: 01) A check written for $68.30 in payment of an account was recorded on the books as $86.30. On a bank reconciliation, this will appear as a(n): a) addition to the bank balance for $18 b) deduction from the bank balance for $18 c) addition to the book balance Read more…
Question: The following data are available for Cline Paper Company for March: Book balance, March 31 $3,620 Service charges 50 Interest revenue 35 Note collected by bank 1,500 Check returned marked NSF 700 01) What is Cline’s adjusted book balance on March 31 from the above data? a) Read more…
Question: 1. All of the following would be on the books side of a bank reconciliation except: a)bank recorded a $2,000 deposit as $200 b)collection of note receivable for $1,000 c)nonsufficient funds check for $75 d)service fee of $20 2. A check drawn by the depositor for $205 in payment Read more…
Question: Why would a bank require a company to maintain a compensating balance? Click the button below to view answer!
Question: The following data have been gathered for Batter Company to assist you in preparing the September 30, 20X6, bank reconciliation: a)The September 30 bank balance was $5,000. b)The bank statement included $30 of service charges. c)There was an EFT deposit of $1,800 on the bank statement for the Read more…
Question: Prepare any necessary journal entries based on the following data regarding the bank reconciliation prepared by Ragpicker Company on February 28, 20X6. a)The service charges for February amount to $55. b)Outstanding checks amount to $650. c)The bank erroneously credited Ragpicker Company’s account for $300 for a deposit made Read more…
Question: Using the following data,Using the following data, compute the balance shown on the bank statement for Durham Company before the preparation of a bank reconciliation on March 31, 20X5: • The book balance before preparation of a bank reconciliation is $3,650.59. • The bank statement indicates service charges of $40.50. • Outstanding Read more…
Question: Using the following data, compute the book balance for Marrow Company before the preparation of a bank reconciliation on January 31, 20X5: • The bank statement reveals a balance of $3,650.59. • The bank statement indicates service charges of $40.50. • Outstanding checks on January 31, 20X5, amount to $10,600.49. • Deposits Read more…
Question: The following information are available for Blue Moon Company regarding its June 30, 20X5, bank statement: • Balance per bank statement is $10,500.34. • Balance per books is $9,452.78. • Check #506 for $1,948.52 and check #510 for $1,800.25 were not returned with the June 30 bank statement. • A deposit in transit Read more…