140 the following items may appear on a bank statement 1 nsf check 2 eft deposit 3 s 4296992
140. The following items may appear on a bank statement:
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1. |
NSF check |
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2. |
EFT Deposit |
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3. |
Service charge |
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4. |
Bank correction of an error from recording a $300 check as $30. |
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|
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Indicate whether the item would appear as debit or credit memorandum on the bank statement and whether the item would increase or decrease the balance of your account. Use the following format:
141. Using the following bank reconciliation for Cole Co. for May 31, 2007, record the appropriate journal entries that would be necessary.
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Cole Co. |
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|
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|
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Cash balance according to bank statement |
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$3,012 |
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Add deposits in transit not recorded by bank |
|
704 |
|
|
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$3,716 |
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Deduct outstanding checks |
|
590 |
|
Adjusted balance |
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$3,126 |
|
Cash balance according to depositor's records |
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$3,165 |
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Deduct: Bank service charge |
$ 30 |
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|
Error in recording |
9 |
39 |
|
Adjusted balance |
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$3,126 |
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|
|
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