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EastWind [94]
3 years ago
5

Identify each of the following reconciling items as: An addition to the cash balance according to the bank statement. A deductio

n from the cash balance according to the bank statement. An addition to the cash balance according to the company's records. A deduction from the cash balance according to the company's records. Assume that none of the transactions reported by bank debit and credit memos have been recorded by the company. Write "entry" by items that will require a journal entry in the company's accounts. 1. Deposits in transit. An addition to the cash balance according to the bank statement. 2. Bank service charges. A deduction from the cash balance according to the company's records (entry). 3. NSF check. A deduction from the cash balance according to the company's records (entry). 4. Outstanding checks. A deduction from the cash balance according to the bank statement. 5. Check for $690 incorrectly recorded by the company as $960. An addition to the cash balance according to the bank statement. 6. Check for $420 incorrectly recorded by the company as $240.
Business
1 answer:
irina1246 [14]3 years ago
7 0

Answer:

Explanation:

1. Deposits in transit. An addition to the cash balance according to the bank statement.

2. Bank service charges. A deduction from the cash balance according to the company's records (entry).

3. NSF check. A deduction from the cash balance according to the company's records (entry).

4. Outstanding checks. A deduction from the cash balance according to the bank statement.

5. Check for $690 incorrectly recorded by the company as $960. An addition to the cash balance according to the bank statement. (Entry)

6. Check for $420 incorrectly recorded by the company as $240. A deduction from the cash balance according to the company's records.(entry)

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This type of restaurant has a relatively large number of employees per customer
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Sheffield Corp. produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statemen
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Answer:

The correct answer is D.

Explanation:

Giving the following information:

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3 years ago
In the month of July (31 days), a company had an available balance in their deposit account of $4,126,000 and service charges of
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The amount that the company owe the bank in hard dollar fees, after adjustment for earnings credit is:$1081.

<h3>Amount owe after adjustment</h3>

Using this formula

Amount owe=Service charges-(Deposit balance×(1-Reserve requirement)×ECR× Number of days/Number of days in a year)

Let plug in the formula

Amount owe = 2500 - (4126000× (1-.10)×0.45%×31/365)

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Therefore the amount that the company owe the bank in hard dollar fees, after adjustment for earnings credit is:$1081.

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