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:

Marbury v. Madison

The 1803 Supreme Court case that established the principle of judicial review in the United States, allowing courts to strike down laws, statutes, and some government actions that violate the Constitution.

Judicial Review

The principle that allows courts, especially the Supreme Court, to review and possibly invalidate legislation and government actions deemed inconsistent with the constitution.

John Marshall

Was the fourth Chief Justice of the United States (1801–1835), known for his role in establishing the judiciary as a coequal branch of government.

Pennsylvania Abolition Society

is an historic organization founded in 1775, dedicated to promoting the abolition of slavery and assisting freed slaves in the United States.