Identify Whether Each of the Following Items Would Be (A)

question 121

Essay

Identify whether each of the following items would be (a) added to the book balance or (b) deducted from the book balance in a bank reconciliation.
1. EFT transfer to a supplier
2. Bank service charge
3. Check printing charge
4. Error recording check # 214 which was written for $450 but recorded for $540
5. Collection of note and interest by bank on company's behalf

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Definitions:

Covariance

A measure of how two stocks move together, indicating the degree to which their returns are related.

Swiss Stock Exchange

A major stock exchange located in Zurich, known for its strict privacy laws and strong financial services sector.

U.K. Bills

Short-term debt securities issued by the United Kingdom government, used to fund its operations and manage its money supply.

Exchange Rate

The value of one currency for the purpose of conversion to another, determining how much one currency is worth in terms of another.