Business, 04.07.2020 14:01, amulets2274

For each of the items indicate whether its amount affects the bank or book side of a bank reconciliation and is an addition or a subtraction in a bank reconciliation and whether an adjusting journal entry is required:

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answered: emmaschloegl21x

THIS IS THE COMPLETE QUESTION

For each of the items indicate whether its amount affects the bank or book side of a bank reconciliation and is an addition or a subtraction in a bank reconciliation and whether an adjusting journal entry is required:

a. Unrecorded deposits

b. Interest on cash balance

c. Bank service charges

d. Debit memos

e. Outstanding checks

f. Credit memos

g. NSF checks

ANSWER:

a)Unrecorded deposits:

Unrecorded deposits may be added to the bank balance , and it affects the bank side of the reconciliation ,The unrecorded deposits doesn't require an adjusting journal entry as well.

b). Interest on cash balance:

Interest on cash balance can be regarded as book addition,which required adjusting journal entry

c)Bank service charges:

Bank service charges is a subtraction in a bank reconciliation, it affects the bank side of the reconciliation, Hence it requires an adjusting journal entry .

d)Debit and credit memos:

Debit memos is a subtraction in a book reconciliation,and it requires adjusting journal entry.

e)Outstanding Checks :

Outstanding Checks a subtraction from the bank balance in the reconciliation and affects the bank side of the bank reconciliation, However it does not require adjustments or adjusting journal entries.

f)Credit memos :

Credit memos can be regarded as book addition, an addition is required to the book side in the reconciliation.it require an adjusting journal entry

NSF checks:

NSF checks affects the book side of the reconciliation, This is an substraction to the book side in the reconciliation, It requires an adjusting journal entry .

Explanation:

✓Unrecorded deposits can be described as deposits which is recorded into the books but has not been recorded by the bank.

✓Interest on cash balance can be described as a reconciling items

that banks record as credit even though it has not been recorded by book as debit

✓Debit Memos is described as a deduction in banks statement as a result of deduction in bank balance.

answered: Guest

True i took the test already

answered: Guest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

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For each of the items indicate whether its amount affects the bank or book side of a bank reconcilia...