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Classify Each of the Following Reconciling Items of the Tic

Question 173

Matching

Classify each of the following reconciling items of the Tic and Tac Company as:

Premises:
Bank withdrew from Tic and Tac's account $1,100 for a cheque written for $110 ________
Cheque returned by the bank marked NSF ________
Deposits in transit ________
Collection of note receivable plus interest revenue by bank ________
Outstanding cheques ________
Bank added deposit to Tic and Tac's account in error ________
Bookkeeper recorded cheque #849 as $693 instead of the correct amount of $963 ________
Bookkeeper failed to record a cheque that was returned with the bank statement ________
Bank service charges ________
Bank charge for printing cheques ________
Responses:
not a reconciling item
a deduction from the book balance
an addition to the book balance
an addition to the bank balance
a deduction from the bank balance

Correct Answer:

Bank withdrew from Tic and Tac's account $1,100 for a cheque written for $110 ________
Cheque returned by the bank marked NSF ________
Deposits in transit ________
Collection of note receivable plus interest revenue by bank ________
Outstanding cheques ________
Bank added deposit to Tic and Tac's account in error ________
Bookkeeper recorded cheque #849 as $693 instead of the correct amount of $963 ________
Bookkeeper failed to record a cheque that was returned with the bank statement ________
Bank service charges ________
Bank charge for printing cheques ________
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