Indicate What Effect Each Situation Will Have on the Bank

question 108

Essay

Indicate what effect each situation will have on the bank reconciliation process. Place the number of your choice beside the items listed.
1. Add to bank balance
2. Deduct from bank balance
3. Add to checkbook balance
4. Deduct from checkbook balance
________ a. deposit in transit
________ b. bank service charge
________ c. NSF check
________ d. Check written for $95 recorded on the company's ledger as $59
________ e. Outstanding checks
________ f. Check written for $80 recorded as $800
________ g. Check printing charges
________ h. Interest earned on checking account

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Definitions:

Antitrust Cases

Legal actions taken to address or prevent business practices that reduce competition in the marketplace.

Sherman Act

A landmark federal statute in the U.S. antitrust law prohibiting monopolistic practices and promoting competition.

Restrain Trade

Involves activities or agreements that restrict or limit competition within a market, often considered illegal under antitrust laws.

Antitrust Violations

Illegal activities under antitrust laws that lead to unfair competition, such as price fixing, monopolies, and other practices that significantly reduce market competition.