Indicate Which Adjustments Would Require a Journal Entry During the Completion

question 79

Essay

Indicate which adjustments would require a journal entry during the completion of the bank reconciliation. Place an "X" on the respective line(s).
________ a. Deposit in transit
________ b. Bank service charge
________ c. NSF cheque
________ d. Cheque written for $19 recorded as $91
________ e. Outstanding cheques
________ f. Cheque written for $42 recorded as $4
________ g. Cheque printing charge
________ h. Note collected by bank.

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Definitions:

Demand Equals

A state in a market where the quantity of a good or service desired by buyers is equal to the quantity supplied by sellers, resulting in market equilibrium.

Marginal Cost

The added expenditure resulting from creating an additional product or service unit.

Long Run

A period of time in which all factors of production and costs are variable, allowing all inputs to be adjusted.

Zero Economic Profit

A situation where total revenues are exactly equal to total costs, indicating no supernormal profit beyond the normal rate of return.