The Following Are Examples of Items That Appear on a Bank

question 42

Short Answer

The following are examples of items that appear on a bank reconciliation.Classify each item as (a)an addition to the bank balance, (b)a subtraction from the bank balance, (c)an addition to the book balance,or (d)a subtraction from the book balance.
1.NSF check
2.Deposits in transit
3.Interest revenue on checking account
4.Bank error - the bank credited the company's account for a deposit made by another customer
5.EFT rent collection
6.Service charge
7.Book error - the company credited cash for $100 when the correct amount was $1,000
8.Outstanding checks
9.Bank collection of a note receivable on behalf of the company

---

Definitions:

Arnold Gesell

An American psychologist and pediatrician known for his work in child development and for establishing developmental milestones.

Jean Piaget

A Swiss psychologist known for his pioneering work in child development, especially his theory of cognitive development.

Built-In Reactions

Inherent responses present from birth that are physiologically based and do not need to be learned, such as reflexes or instinctive behaviors.

Reflexes

Automatic, involuntary responses or movements produced by the nervous system in reaction to external stimuli.