Essay
Identify how each of the following items would be treated on a bankreconciliation by entering one of the following codes in the space provided. 
1. Outstanding cheques.2. Deposits in transit.3. Cheque #32, subtracted from the bank balance on last month's bank reconciliation, was returned with this month's statement.4. Included with the bank statement was a debit memo for bank servicecharges.5. Cash receipts placed in the bank's night depository after banking hours were not included on the bank statement prepared on the same date.6. Cheque #47 was written and recorded by the bank as $753. The business recorded the cheque as $735.7. A cheque listed as outstanding on last month's bank reconciliation was not returned with the current month's cancelled cheques.8. A deposit listed as outstanding on last month's bank reconciliationappeared as a deposit on the current month's bank statement.9. A credit memo enclosed with the bank statement shows that the bank collected a note on behalf of the account holder.10. A debit memo enclosed with the bank statement shows that the bankpaid a note on behalf of the account holder.
Correct Answer:
Verified
Correct Answer:
Verified
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