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.