7._____ A company had a book balance at October 31st of $9,320. The bank statement showed the following: interest revenue of $25, a $150 NSF check, a note collected by the bank of $500, and service charges of $20. What is the reconciled cash balance on October 31st?
A. $8,625
B. $10,015
C. $9,675
D. $8,675
8._____Which of the following items would you deduct from the bank statement balance to calculate the reconciled cash balance on the bank reconciliation?
A. Deposits in transit
B. Book error â a $300 check recorded as $175
C. Bank service charges
D. None of the above
9._____In reconciling the March bank statement, the supervisor discovered that the bookkeeper had recorded a check written for $32 as $23 in the cash disbursements journal. For the bank reconciliation, the $9 error should be:
A. Added to the balance per bank statement
B. Added to the balance per general ledger
C. Deducted from the balance per bank statement
D. Deducted from the balance per general ledger
10._____In reconciling the October bank statement, the supervisor discovered that the bookkeeper had recorded a check written for $257 as $275 in the cash disbursements journal. For the bank reconciliation, the $18 error should be:
A. Added to the balance per bank statement
B. Added to the balance per general ledger
C. Deducted from the balance per bank statement
D. Deducted from the balance per general ledger
11._____Which of the following would you add to the balance per general ledger to arrive at the reconciled cash balance in the bank reconciliation?
A. Bank service charge
B. Collection of a note by bank
C. âNSFâ checks
D. Deposits in transit
7._____ A company had a book balance at October 31st of $9,320. The bank statement showed the following: interest revenue of $25, a $150 NSF check, a note collected by the bank of $500, and service charges of $20. What is the reconciled cash balance on October 31st?
A. $8,625
B. $10,015
C. $9,675
D. $8,675
8._____Which of the following items would you deduct from the bank statement balance to calculate the reconciled cash balance on the bank reconciliation?
A. Deposits in transit
B. Book error â a $300 check recorded as $175
C. Bank service charges
D. None of the above
9._____In reconciling the March bank statement, the supervisor discovered that the bookkeeper had recorded a check written for $32 as $23 in the cash disbursements journal. For the bank reconciliation, the $9 error should be:
A. Added to the balance per bank statement
B. Added to the balance per general ledger
C. Deducted from the balance per bank statement
D. Deducted from the balance per general ledger
10._____In reconciling the October bank statement, the supervisor discovered that the bookkeeper had recorded a check written for $257 as $275 in the cash disbursements journal. For the bank reconciliation, the $18 error should be:
A. Added to the balance per bank statement
B. Added to the balance per general ledger
C. Deducted from the balance per bank statement
D. Deducted from the balance per general ledger
11._____Which of the following would you add to the balance per general ledger to arrive at the reconciled cash balance in the bank reconciliation?
A. Bank service charge
B. Collection of a note by bank
C. âNSFâ checks
D. Deposits in transit
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Related questions
The balance in Happ, Inc.âs general ledger Cash account was$14,300 at September 30, before reconciliation. The September 30balance shown in the bank statement was $12,830. Reconciling itemsincluded deposits in transit, $1,370; bank service charges, $155;NSF check written by a customer and returned with the bankstatement, $620; outstanding checks, $550; and interest credited tothe account during September but not recorded on the companyâsbooks, $125.
Required:
Prepare a bank reconciliation as of September 30 for Happ,Inc.
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