1) Journal entries based on the bank reconciliation are required in the company's accounts for A

Subject:ManagementPrice:3.87 Bought7

Share With

1) Journal entries based on the bank reconciliation are required in the company's accounts for

A. outstanding checks

B. deposits in transit

C. bank errors

D. book errors

2) Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is

A. a deduction from the balance per company's records

B. an addition to the balance per bank statement

C. a deduction from the balance per bank statement

D. an addition to the balance per company's records

3) Accompanying the bank statement was a debit memo for bank service charges. What entry is required in the company's accounts?

A. debit Miscellaneous Administrative Expense; credit Cash

B.debit Cash; credit Other Income

C. debit Cash; credit Accounts Payable

D. debit Accounts Payable; credit Cash

 

4) A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. This item would be included in the bank reconciliation as a(n)

A. deduction from the balance per the company's records

B. addition to the balance per the bank statement

C. deduction from the balance per the bank statement

D. addition to the balance per the company's records