Business, 16.03.2020 18:06 trin4613

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 d. Unrecorded deposits g. Bank service charges
b. Debit memos e. Interest on cash balance
c. NSF cheeks f. Credit memos

Answers: 2

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Answer from: iilovejohnccena1022

a. Outstanding checks - affects bank reconciliation and represents a subtraction.

b. Debit memos - affects bank and represents a subtraction.

c. NSF checks - affects bank and represents a subtraction.

d. Unrecorded deposits - affects bank reconciliation and represents an addition.

e. Interest on cash balance affects bank and represents an addition.

f. Credit memos - affects bank and represents an addition.

g. Bank service charges - affects bank reconciliation and represents a subtraction.

Answer from: triplej8100

a. Outstanding Checks – bank; subtraction from a bank reconciliation.

b. Debit memos – book; subtraction from a bank reconciliation.

c. NSF checks – book; subtraction from a bank reconciliation.

d. Unrecorded deposits – bank; addition to a bank reconciliation.

e. Interest on cash balance – book; addition to a bank reconciliation.

f. Credit memos – book; addition to a bank reconciliation.

g. Bank service charges – book; subtraction from a bank reconciliation.

Explanation:

a. Outstanding checks – (i)This affects the bank side of a bank reconciliation. (ii) It represents a subtraction in a bank reconciliation.

b. Debit memos – (i) This affects the book side of a bank reconciliation. (ii) It represents a subtraction in a bank reconciliation.

c. NSF cheeks – (i) This affects the book side of a bank reconciliation. (ii) It represents a subtraction in a bank reconciliation.

d. Unrecorded deposits – This affects the bank side of a bank reconciliation. (ii) It represents an addition in a bank reconciliation.

e. Interest on cash balance – This affects the book side of a bank reconciliation. (ii) It represents an addition in a bank reconciliation.

f. Credit memos – This affects the book side of a bank reconciliation. (ii) It represents a addition in a bank reconciliation.

g. Bank service charges – This affects the book side of a bank reconciliation. (ii) It represents a subtraction in a bank reconciliation.

Answer from: Quest

107x106 is the answer

Answer from: Quest

answer; functional fixedness;

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