The Following Are Examples of Items That Appear on a Bank

question 42

Short Answer

The following are examples of items that appear on a bank reconciliation.Classify each item as (a)an addition to the bank balance, (b)a subtraction from the bank balance, (c)an addition to the book balance,or (d)a subtraction from the book balance.
1.NSF check
2.Deposits in transit
3.Interest revenue on checking account
4.Bank error - the bank credited the company's account for a deposit made by another customer
5.EFT rent collection
6.Service charge
7.Book error - the company credited cash for $100 when the correct amount was $1,000
8.Outstanding checks
9.Bank collection of a note receivable on behalf of the company

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Definitions:

Algebraic Expression

A mathematical phrase that includes numbers, variables, and operation symbols but no equal sign.

Sales Tax

A percentage of the sale price collected by the government on goods and services.

Purchase

The act of buying goods or services.

Algebraic Expression

A mathematical phrase that can contain ordinary numbers, variables, and operators.