Which Of The Following Would Not Be Subtracted From The Balance Per Books On A Bank Reconciliation?

According to the books, a deduction from the balance. On a bank reconciliation, which of the following items would not be deducted from the balance according to the books? a. Checks that are past due.

Contents

What should be included in a bank reconciliation?

A. Service costs B. Unpaid check balances Deposits in transit D. Notes collected by the bank C. Deposits received by the bank C. Deposits while they are in transit A bank reconciliation should be created in order to explain any discrepancies between the depositor’s balance on the books and the depositor’s balance on the bank’s ledger.

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What if a check is incorrectly recored on the bank reconciliation?

It is permissible to add $54 to the book’s balance if a check for $628 that was correctly made and paid by the bank is mistakenly recored on the company’s books as $682.

What is the appropriate treatment on a bank reconciliation for $628?

It is permissible to add $54 to the book’s balance if a check for $628 that was correctly made and paid by the bank is mistakenly recored on the company’s books as $682. When doing a bank reconciliation, which of the following inaccuracies should be corrected by adding the appropriate amount to the balance per bank?

What happens if the book Balance is not the same?

There has been an error if the depositor’s book balance and the bank’s book balance are not the same as each other. When there is a cash deficit, a debit journal entry is made to the cash short and over account to record it. A cash overage might be shown by cash receipts of $719 compared to a cash count of $715.

What would be deducted from the balance per books on a bank reconciliation?

Which of the following items from a bank reconciliation would not require an adjusting journal entry on the company books?

Which of the following bank reconciliation items would not result in the creation of an adjusting journal entry in the company’s accounting records? Checks that are past due. According to a bank reconciliation, which of the following factors would necessitate the creation of an adjusting journal entry in the company’s books? A fee for using a bank’s services.

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Which of the following items on a bank reconciliation would require an adjusting entry on the company’s books *?

If interest on balance appears on a bank reconciliation, an adjusting entry would be required since pending checks and deposits in transit are essentially time discrepancies that would be cleared automatically, and the adjusted cash balance has already been modified to account for the inaccuracies.

Which of the following items on a bank reconciliation would require a journal entry by the company?

Returning checks to the bank incurs costs. Corrections made by the bank as a result of errors made by the company in its deposits. Collections of the company’s notes receivable made by the bank on the company’s behalf. Interest accrued on bank accounts is called compound interest.

What is subtracted from the balance per books?

Explanation: On a bank reconciliation, bank service costs should be deducted from the balance in accordance with the records.

Which of the following items would be added to the balance per books on a bank reconciliation?

In a bank reconciliation, deposits in transit would be added to the amount based on the most recent bank statement.

What reconciling item on the bank reconciliation does not require a journal entry?

According to bank records, a journal entry would not be necessary for balancing the bank accounts. Items that have not yet been registered or have been recorded incorrectly are referred to as reconciling items per bank.

Which of the following items in a bank reconciliation would require the accountant to make an adjusting journal entry?

If interest on balance appears on a bank reconciliation, an adjusting entry would be required since pending checks and deposits in transit are essentially time discrepancies that would be cleared automatically, and the adjusted cash balance has already been modified to account for the inaccuracies.

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Which of the following is an example of a bank reconciliation item that requires an adjusting entry?

NSF check is the correct answer. The NSF checks are an example of a bank reconciliation item that necessitates the creation of an adjusting entry.

Which of the following items are reconciling items on the bank side of the reconciliation?

The proper response is c. a deposit in transit and a backlog of unpaid checks.

What are the open items in bank reconciliation?

Sorting things in the Open Items Grid: You may sort items in the grid by selecting the header row you wish to utilize for the sorting: Posted date: The date on which the item was entered into the general ledger. Tran: The sort of transaction that is taking place. Payee/Description: If the item is a check, the Payee Name will be shown in this section.

Which of the following items used to reconcile cash does not require an adjusting entry?

Deposits in transit are utilized to reconcile cash balances, although they do not need the creation of an adjusting entry.

Which of the following is not an objective of internal controls?

B. Overstate liabilities in order to be cautious is the only option that does not provide an aim for a system of internal controls to achieve.

Which of the following receivables would not be classified as an other?

Which of the following receivables would not be classed as a ‘other receivable’ under the accounting definition? Trade receivables are a type of debt.

Which one of the following is not an objective of a system of internal controls quizlet?

An internal control system’s goal cannot be achieved by any means other than those listed below. In order to be cautious, it is necessary to overstate liabilities. You’ve just finished studying 20 terms!

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