Indicate whether the amount.....

Question

1. For each of the following items, indicate whether its amount (i) affects the bank or book side of

a bank reconciliation and (ii) represents an addition or a subtraction in a bank reconciliation:

a. Outstanding checks

b. Debit memos

c. NSF checks

d. Unrecorded deposits

e. Interest on cash balance

f. Credit memos

g. Bank service charges

2. Which of the items in part 1 require an adjusting journal entry?

Answer 1

a) Bank , +

b) Books, -

c) Books, +

d) Books, +

e) Books, +

f) Books, -

g) Books, -

2) All those that affect book.