Reference no: EM132492345

Question 1: How would each of the following items be recorded on a bank reconciliation? Next to each item, record the correct letter from this list: (a) increase to bank balance, (b) decrease to bank balance, (c) increase to company cash balance, (d) decrease to company cash balance, or (e) not included in the bank reconciliation.

1.________ EFT payment made by a customer
2.________ Bank debit memorandum for service charges
3.________ Outstanding cheques from the current month
4.________ Bank error in recording a $1,779 deposit as $1,977
5.________ Outstanding cheques from the previous month that are still outstanding
6.________ Outstanding cheques from the previous month that are no longer outstanding
7.________ Bank error in recording a company cheque made out for $160 as $610
8.________ Bank credit memorandum for interest revenue
9.________ Company error in recording a deposit of $160 as $1,600
10.________ Bank debit memorandum for a customer's NSF cheque
11.________ Deposit in transit from the current month
12.________ Company error in recording a cheque made out for $630 as $360