Identify Whether Each of the Following Items 1 Through 10

question 20

Short Answer

Identify whether each of the following items 1 through 10 would on appear on the bank side or the book side of a bank reconciliation.
_____ 1. Bank service charges
_____ 2. Outstanding checks
_____ 3. Deposits in transit
_____ 4. NSF check
_____ 5. Interest on a checking account
_____ 6. The company properly wrote a check for $95.80 that the bank incorrectly paid as $9.58.
7. The bank printed checks for the depositor for a fee.
_____ 8. Bank debit memorandum
_____ 9. Bank credit memorandum
_____ 10. The bank collected a $1,000 note for the depositor.

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Definitions:

Positive Externalities

Benefits that are enjoyed by a third-party or the society at large, as a result of an economic transaction.

Socially Optimal Level

The socially optimal level is the quantity of production or consumption where the marginal social cost equals the marginal social benefit, maximizing overall welfare.

Policymakers

Individuals or groups responsible for making decisions and establishing regulations that guide the economic, social, and political governance of a society.

Marginal Benefit

The plus in satisfaction or usefulness someone gets by consuming an extra unit of a given product or service.