181.Following are seven iems a through g that wouid cause Rembrandt Company\'s b

Question

181.Following are seven iems a through g that wouid cause Rembrandt Company's book balance of cash to differ from its bank statement balance of cash a. A service charge imposed by the bank. b. A check listed as outstanding on the previous period's reconcillation and stll outstanding at the end of this month. c. A customer's check returned by the bank is marked "Not Sufficient Funds (NSF) d. A deposit mailed to the bank on the last day of the current month and not recorded on this month's bank statement e. A check paid by the bank at its correct $190 amount recorded in error in the company's check register at $109. f. An unrecorded credit memorandum indicating that bank collected a note receivable for Rembrandt Company and deposited the proceeds in the company's account g. A check written in the current period that is not yet paid or returned by the bank. indicate where each tem, letters a-g, would appear on Rembrandt Company's bank reconcliation by placing its identfying letter in the parentheses in the proper section of the form below osk balance of cah Bank statement cash balance Add: Deduct Reconciled balance Reconcled balance

Explanation / Answer

Bank statement cash balance Book balance of cash Add Add Since amount deducted in bank statement only a Since amount added in bank book only f Since amount deducted in bank statement only c Since amount deducted in cashbook only g Since amount not added in bank book d Since amount deducted in cashbook only b Since 81 short deducted in cash book e(190-109=81) Less Less Since amount added in bank book only f Since amount deducted in bank statement only a Since amount deducted in cashbook only g Since amount deducted in bank statement only c Since amount deducted in cashbook only b Since amount not added in bank book d Since 81 short deducted in cash book e(190-109=81) Reconciled balance Reconciled balance

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