Match Each Item to a Bank Statement Adjustment, a Company

question 62

Multiple Choice

Match each item to a bank statement adjustment, a company books adjustment, or either.
-Bank charges

• A)Bank statement adjustment
• B)Company books adjustment
• C)Either

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Definitions:

Adjusting Entry

A journal entry made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Supplies Used

The cost of materials and supplies consumed during an accounting period in the course of operations.

Supplies Account

An account used in accounting to track the cost of supplies spent over a specific period.