45 indicate which adjustments would require a journal entry during the completion of 4310159

45) Indicate which adjustments would require a journal entry during the completion of the bank reconciliation. Place an “X” on the respective line(s).

________ a. Deposit in transit

________ b. Bank service charge

________ c. NSF check

________ d. Check written for $58 recorded on the company's ledger as $85

________ e. Outstanding checks

________ f. Check written for $42 recorded as $4

________ g. Check printing charge

________ h. Note collected by bank.

46) List the various steps and procedures included in the bank reconciliation process.

What are the advantages in preparing a monthly bank reconciliation?

47) Determine the reconciled bank balance given the following:

The balance per bank statement is $ 110

The balance per general ledger is $107

There is a credit memo for a note collected, $408

There is a credit memo for interest earned, $25

There is a debit memo for a customer's NSF check $350

Deposits in transit, $850

Outstanding checks amount to $845

This month's service charge amounts to $50

There is a debit memo for check printing fees, $25

$ ________

48) Determine the unadjusted balance per bank statement given the following:

The balance per general ledger is $210

There is a credit memo for a note collected, $450

There is a debit memo for interest expense, $100

There is a debit memo for a customer's NSF check $375

Outstanding checks amount to $2,000

This month's service charge amounts to $50

Deposits in transit amount to $1,500

$ ________

49) Prepare the required journal entries from the bank reconciliation below as of the end of January:

The balance per general ledger is $200

There is a debit memo for interest expense, $100

There is a debit memo for a customer's NSF check $375

Outstanding checks amount to $2,000

This month's service charge amounts to $75

Deposits in transit amount to $1,500

50) When completing a bank reconciliation, explain why all adjustments to the checkbook balance require journal entries?

51) What is the difference between a debit and credit memorandum?