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Author Question: Identify each of the following reconciling items in the bank reconciliation process as being a ... (Read 90 times)

bobbysung

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on: Jul 5, 2018
Identify each of the following reconciling items in the bank reconciliation process as being a reconciling item either on the bank's side (Bank) or on the company's side (Book) of the bank reconciliation.
 
  _____ 1. A bank fee for printing new checks
  _____ 2. Team Shirts correctly deposited a check for 882. The bank recorded the check as 828.
  _____ 3. Outstanding checks
  _____ 4. Deposits in transit
  _____ 5. Team Shirts deposited a check that it had recorded as 89.00. The bank correctly recorded the check as 98.

Question 2

A(n) ___________________ _ is a special multi-column record used to keep track of payments from the petty cash fund as a supplement to the accounting records.
 Fill in the blank(s) with correct word


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bdobbins

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Reply #1 on: Jul 5, 2018
Answer to Question 1

1. Book, 2. Bank, 3. Bank, 4. Bank, 5. Book

Answer to Question 2

petty cash payments record


bobbysung

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Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)

milbourne11

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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