newconnectmheducationcom ercises Help Save Ex QS 65 Bank re

newconnect.mheducation.com ercises Help Save & Ex QS 6-5 Bank reconciliation LO P3 1& 2. For each of the following items, indicate whether its amount affects the bank or book side of a bank reconciliation and represents an addition or a subtraction in a bank reconciliation and whether an adjusting journal entry is required: n or Su b. Bank service charges Debit memos d. Outstanding checks 1. NSF checks g Outstanding deposits C Prev of Next> 4 8

Solution

Sr. No. Items Bank or Book Addittion Or Substraction Adjusting entry required a Interest on cash balance Book Addittion Yes b Bank Service Charges Book Addittion Yes c Debit Memos Book Subtraction Yes d Outstaning Checks Book Addittion No e Credit Memos Book Addittion Yes f NSF Checks Bank Addittion No g Outstanding Deposits Bank Addittion No