If the Bank Reconciliation Includes a Bank Service Charge,a Journal

question 167

True/False

If the bank reconciliation includes a bank service charge,a journal entry is required,which debits Bank Expense and credits Cash.

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Definitions:

Shares

Units of ownership interest in a corporation or financial asset, representing a portion of a company's equity capital.

Quarterly Dividends

Payments made by a corporation to its shareholders, usually on a quarterly basis, from its profits or reserves.

Capital Gains

The profit from the sale of assets or investments when the selling price exceeds the original purchase price.

Shares

Units of ownership interest in a corporation or financial asset, giving the shareholders a proportionate claim on the company’s earnings and assets.