Subtraction in bank reconciliation

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Reference no: EM1314053

Transactions treated in bank reconciliation statements.

1. For each of the following items, indicate whether its amount (i) affects the bank or book side of bank reconciliation and (ii) represents an addition or a subtraction in bank reconciliation:

a. Outstanding checks

b. Unrecorded deposits

c. Bank service charges

d. Debit memos

e. Interest on cash balance

f. NSF checks

g. Credit memos

2. Which of the items in part I require an adjusting journal entry?

Reference no: EM1314053

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