If the month-end bank statement shows a balance of $150000, outstanding checks are $47500, a deposit of $22000 was in transit at
month-end, and a check for $3020 was erroneously charged by the bank against the account, the correct balance in the bank account
at month-end is
$172480.
$127520.
$121480.
$83520.
The cash account shows a balance of $82000 before reconciliation. The bank statement does not include a deposit of $4200 made on
the last day of the month. The bank statement shows a collection by the bank of $1740 and a customer's check for $540 was returned
because it was NSF. A customer's check for $800 was recorded on the books as $990, and a check written for $165 was recorded as
$197. The correct balance in the cash account was
$83422.
$82978.
$87242.
$83042.
The journal entries for a bank reconciliation . —— 3
When preparing a bank reconciliation, bank credits are
-
may include a credit to Accounts Receivable for an NSF check.
added to the balance per books.
are taken from the "balance per bank" section only.
added to the bank statement balance.
may include a debit to Accounts Payable for an NSF check.
deducted from the balance per books.
may include a debit to Office Expense for bank service charges.
deducted from the bank statement balance.
, Which of the following is a reconciling item to the balance per bank in a bank reconciliation?
Chargeback for NSF check.
Bank service charge.
Bank interest.
Deposit in transit.
Sheffield, Inc’s balance on their books at December 31, 2025 was $83200. In addition, Sheffield held the following items in its safe on
December 31.
(1) A check for $1850 from Grouper, Inc. received December 30, 2025, which was not included in the book balance.
(2) An NSF check from Skysong Company in the amount of $3700 that had been deposited at the bank, but was returned for lack of
sufficient funds on December 29. The check was to be redeposited on January 3, 2026. The original deposit has been included in the
December 31 book balance.
(3) Coin and currency on hand amounted to $5%00.
The proper amount to be reported on Sheffield’'s balance sheet for cash at December 31, 2025 is:
$85500.
$83550.
$79850.
$87250.
month-end, and a check for $3020 was erroneously charged by the bank against the account, the correct balance in the bank account
at month-end is
$172480.
$127520.
$121480.
$83520.
The cash account shows a balance of $82000 before reconciliation. The bank statement does not include a deposit of $4200 made on
the last day of the month. The bank statement shows a collection by the bank of $1740 and a customer's check for $540 was returned
because it was NSF. A customer's check for $800 was recorded on the books as $990, and a check written for $165 was recorded as
$197. The correct balance in the cash account was
$83422.
$82978.
$87242.
$83042.
The journal entries for a bank reconciliation . —— 3
When preparing a bank reconciliation, bank credits are
-
may include a credit to Accounts Receivable for an NSF check.
added to the balance per books.
are taken from the "balance per bank" section only.
added to the bank statement balance.
may include a debit to Accounts Payable for an NSF check.
deducted from the balance per books.
may include a debit to Office Expense for bank service charges.
deducted from the bank statement balance.
, Which of the following is a reconciling item to the balance per bank in a bank reconciliation?
Chargeback for NSF check.
Bank service charge.
Bank interest.
Deposit in transit.
Sheffield, Inc’s balance on their books at December 31, 2025 was $83200. In addition, Sheffield held the following items in its safe on
December 31.
(1) A check for $1850 from Grouper, Inc. received December 30, 2025, which was not included in the book balance.
(2) An NSF check from Skysong Company in the amount of $3700 that had been deposited at the bank, but was returned for lack of
sufficient funds on December 29. The check was to be redeposited on January 3, 2026. The original deposit has been included in the
December 31 book balance.
(3) Coin and currency on hand amounted to $5%00.
The proper amount to be reported on Sheffield’'s balance sheet for cash at December 31, 2025 is:
$85500.
$83550.
$79850.
$87250.
