Zetor incs june bank statement shows a june 30 balance of

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Reference no: EM13596629

1.State Bank collected a note for Meadow Company. This collection, not yet recorded in Meadow's books, appears on the bank reconciliation as a(n):
A. Addition to balance per general ledger
B. Deduction from balance per bank statement
C. Addition to balance per bank statement
D. Deduction from balance per general ledger
E. None of the above

2.Which of the following items would you add to the bank statement balance to arrive at the reconciled cash balance in a bank reconciliation:
A. Bank service charges
B. Outstanding checks
C. "NSF' checks
D. Bank collection charges
E. None of the above

3.Which of the following would you deduct from the bank statement balance to arrive at the reconciled cash balance in a bank reconciliation:
Answer A. Bank service charges
B. Deposits in transit
C. "NSF" checks
D. Outstanding checks
E. None of the above

4.In reconciling the May bank statement, the vice president discovered that the bookkeeper had recorded a check written for $418 as $481 in the cash disbursements journal. For the bank reconciliation, the $63 error should be:
A. Added to balance per bank statement
B. Added to balance per general ledger
C. Deducted from balance per bank statement
D. Deducted from balance per general ledger
E. None of the above

5.The following information pertains to Guadalupe Company:
Cash balance per bank statement $7,150
Cash balance per general ledger 7,540
Bank service charge 20
Deposits in transit to bank 925
Outstanding checks 655
NSF check returned by bank 100

Guadalupe should show the following reconciled cash balance from the bank reconciliation on its balance sheet:
Answer A. $6,770
B. $8,445
C. $7,420
D. $8,055
E. None of the above

6.Zetor, Inc.'s June bank statement shows a June 30 balance of $9,050. Prior to reconciliation, its books show a cash balance of $8,710. The information below pertains to Zetor, Inc.
Deposits in transit $700
Checks outstanding 480
Bank service charges 20
Error in Zetor's records overstating cash disbursement 90
Check of another company charged erroneously against Zetor's bank account 250
Bank statement shows bank collected a note receivable and interest income for Zetor 740

The reconciled cash balance at June 30 on the bank reconciliation should be:

A. $10,100
B. $ 9,520
C. $ 9,340
D. $ 9,270
E. None of the above

Reference no: EM13596629

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