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Bank correction of an error from recording

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Reference no: EM132441325

1) The following items may appear on the bank statement

1. Bank correction of an error from recording a $6,200 deposit as $2,600

2. EFT payment

3. Note collected from the company

4. Service charge

Using the following format indicate whether each item would appear as a debit or credit memo on the bank statement and weather the item would increase or decrease the balance of the company's account.

Item number, Appears on the bank statement as a debit or credit memo, Increase or decrease the balance of the company's bank account

2) Explain what types of transactions would require an addition to a

bank statement when performing a bank reconciliation.

a) ...would require a deduction to a bank statement...

b) ...would require an addition to a company's statement...

c) ...would require a deduction to a company's statement...

3) The following data were generated to use the reconciling the bank account of eves company

Balance per bank................................................$9,350

Balance per company records.................................8,510

Bank service charges..................................................35

Deposit in transit.................................................2,350

NSF checks.........................................................1,875

Outstanding checks..............................................5,100

a) What is the adjusted balance on the bank reconciliation?

b) Journalize any necessary entries for eves company based on the bank reconciliation.

Reference no: EM132441325

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