At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank reconciliation must be performed. First you collect the data from June 30th reconciliation as follows: Balance per Bank add: Deposits in Transit deduct: Outstanding Cheques Balance per Books Second you close your update your Cash and bank account with all transactions recorded before AJE and you have: Balance July 31 Deposits Cheques Balance July 31 Deposits Cheques Third you look at the bank statement provided by your bank and you see the following: Note collected Bank service charge NSF cheque Interest received Autowithdrawals Multiple Choice O NSF Cheque $150 $12,000 $ 7,300 $ 4,800 Errors $30 Which of the following items have been deducted from the Cash and Bank account when doing the reconciliation? $12,430 $6,000 Notes Collected $1,000 Interest $200 $ 4,000 $1,000 $10,000 $ 1,800 $(2,200) $ 9,600 S $ $ S 20 150 200 508 None of the other alternatives are correct

At the end of the month of July you close the books of your company and received the bank statement. You are ready to start with the Adjusting journal entries and realized that a bank reconciliation must be performed. First you collect the data from June 30th reconciliation as follows: Balance per Bank add: Deposits in Transit deduct: Outstanding Cheques Balance per Books Second you close your update your Cash and bank account with all transactions recorded before AJE and you have: Balance July 31 Deposits Cheques Balance July 31 Deposits Cheques Third you look at the bank statement provided by your bank and you see the following: Note collected Bank service charge NSF cheque Interest received Autowithdrawals Multiple Choice O NSF Cheque $150 $12,000 $ 7,300 $ 4,800 Errors $30 Which of the following items have been deducted from the Cash and Bank account when doing the reconciliation? $12,430 $6,000 Notes Collected $1,000 Interest $200 $ 4,000 $1,000 $10,000 $ 1,800 $(2,200) $ 9,600 S $ $ S 20 150 200 508 None of the other alternatives are correct

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter5: Cash Control Systems

Section: Chapter Questions

Problem 2AP

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