Question : 21) The Candy Place received a bank statement showing a : 1212704

21) The Candy Place received a bank statement showing a balance of $5,350. What is the adjusted balance if there was a bookkeeper error of $200 in the depositor’s favour, two outstanding cheques totalling $720, a service charge of $15, a deposit in transit of $165, and interest revenue of $21 earned by the depositor?

A) $4,795

B) $4,995

C) $5,016

D) $4,601

 

22) Marvin Gardens received a bank statement showing a balance of $1,300. What is the adjusted balance if there was a bookkeeper error of $150 in the depositor’s favour, two outstanding cheques totalling $40, a service charge of $10, a deposit in transit of $150, and interest revenue of $26 earned by the depositor?

A) $960

B) $1,586

C) $1,560

D) $1,410

 

23) Park Place received a bank statement showing a balance of $1,400. What is the adjusted balance if there was a bookkeeper error of $100 in the depositor’s favour, two outstanding cheques totalling $40, a service charge of $10, a deposit in transit of $150, and interest revenue of $26 earned by the depositor?

A) $1,110

B) $1,510

C) $1,636

D) $1,610

24) The bank statement lists a $700 deposit as $70. On a bank reconciliation, this will appear as a(n):

A) addition to the bank balance.

B) deduction from the book balance.

C) addition to the book balance.

D) deduction from the bank balance.

 

25) A cheque for the cash purchase of supplies for $329 was recorded on the books as $239. On a bank reconciliation, this will appear as a(n):

A) addition to the book balance.

B) deduction from the book balance.

C) addition to the bank balance.

D) deduction from the bank balance.

 

26) A cheque for the cash purchase of supplies for $239 was recorded on the books as $329. On a bank reconciliation, this will appear as a(n):

A) addition to the book balance.

B) deduction from the book balance.

C) addition to the bank balance.

D) deduction from the bank balance.

 

27) A cheque issued to settle an account for $145 was recorded on the books as $1,450. On a bank reconciliation, this will appear as a(n):

A) addition to the book balance.

B) deduction from the book balance.

C) addition to the bank balance.

D) deduction from the bank balance.

28) The journal entry to record an NSF cheque would require a:

A) debit to Accounts Payable and a credit to Cash.

B) debit to Cash and a credit to Accounts Receivable.

C) debit to Accounts Receivable and a credit to Cash.

D) debit to Miscellaneous Expense and a credit to Cash.

 

29) After preparing the bank reconciliation, journal entries must be prepared for:

A) any errors made on the books revealed by the bank reconciliation.

B) any errors made by the bank revealed by the bank reconciliation.

C) deposits in transit.

D) outstanding cheques.

 

30) A cheque written for $68.30 in payment of an account was recorded on the books as $86.30. On a bank reconciliation, this will appear as a(n):

A) addition to the bank balance for $18.

B) deduction from the bank balance for $18.

C) addition to the book balance for $18.

D) deduction from the book balance for $18.

 

 

 

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