Which of the following items will require a journal entry to the companys books

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If you have difficulty answering the following questions, learn more about this topic by reading our Bank Reconciliation (Explanation).

1. Checks that have been written by a company but have not yet been charged to the company's checking account are referred to as checks.

2. A company's receipts from September 30 that get deposited to the company's bank account on October 1st are referred to as deposits as of September 30.

3. A general guide for reconciling the bank statement is "Put the item where it ".

For items 4-15, select the action necessary to reconcile the bank statement.

Outstanding checks.

Bank service charge.

Interest credited to bank account.

Interest charged to bank account.

Deposit in transit.

Bank inadvertently charged your bank account for another company's bank fees.

10.

Bank erred by posting another company's credit memo to your company's bank account.

11.

Fee charged by bank for returned check.

12.

A company wrote a check for $76 and it cleared the bank for $76. However, the company recorded the check in its Cash account as $67. How is the difference of $9 handled on the bank reconciliation?

13.

A company had a receipt of $989 and correctly prepared its bank deposit slip for $989. However, the company recorded the receipt in its Cash account as $998. How is the difference of $9 handled on the bank reconciliation?

14.

The bank collected a Note Receivable for the company and credited the company's bank account for $1,000.

15.

A company deposited a check from a customer into its checking account. A few days later the check was returned with the notation "Account Closed" and the bank deducted the amount on the bank statement.

16. A company's Cash account has a balance of $851 as of October 31. The bank statement for this account reports a balance of $1,430 as of October 31. There are outstanding checks totaling $840 and a deposit in transit of $60. The bank statement shows interest earned of $19, service charges of $30, a customer's returned check of $100, and a check printing fee of $90. The reconciled Cash balance that should be reported on the company’s balance sheet as of October 31 is $

__________

17.

Which of the following items will require a journal entry to the company's books?

18.

Which of the following will NOT require a journal entry to the company's books?

19.

A company recorded its check #2754 in its accounting records as $98. However, check #2754 was actually written for $89 and it cleared the bank as $89. What adjustment is needed to the Cash balance per books?

20.

A company recorded its August 15 receipts on its books as $165. However, the receipts were actually $156. The deposit slip for the bank was prepared correctly as $156. What adjustment is needed to the Cash balance per books?

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What items are included in journal entry?

Each journal entry contains the data significant to a single business transaction, including the date, the amount to be credited and debited, a brief description of the transaction and the accounts affected. Depending on the company, it may list affected subsidiaries, tax details and other information.

What are the 5 types of Journal Entries?

Journal entries are divided into six main types, that is, Opening Entries, Transfer Entries, Closing Entries, Adjusting Entries, Compound Entries, and Reversing Entries. Each of these entries have a specific function in accounting.