In reconciling a bank statement, the bank statement balance is $1,000 and the balance per books is $1,205. A bank service charge is $5; a deposit in transit totals $500; and outstanding checks total $300. The journal entry for a bank service charge would include
a. debiting Cash and crediting Miscellaneous Expense
b. debiting Miscellaneous Expense and crediting Cash
c. Debiting Cash and crediting owner's Capital
d. debiting Accounts payable and crediting Cash
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In reconciling a bank statement, the bank statement balance is $1,000 and the balance per books is $1,205. A bank service charge is $5; a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Determine which of the following countries would be classified as 'growth miracles' or 'growth disasters'.
Answers (1)
Which term refers to understanding international marketing opportunities, using effective global marketing strategies, and knowing the threats from foreign competitors in all markets?
Answers (1)
Which of the following statements about the Grameen Bank is false? A. About half of the borrowers are women. B. The bank has branches throughout rural areas in Bangladesh. C. The bank was the first institution to utilize the microcredit concept. D.
Answers (1)
Benton Company is preparing its annual profit plan. As part of its analysis of the cost of its purchasing activity, management estimates that the $48,000 for purchasing support should be assigned to the individual vendors from the information given
Answers (1)
Cross references should be prepared for business names when
Answers (1)
New Questions in Business
Diane had a plan to improve her responsibility. in order to understand if she has met her goal, she must A. formulate a new goal B. record her progress C. accomplish harder tasks D. ask others for their opinions
Answers (1)
Olivia's employer deducts an amount from her paycheck for the Medicare program. What type of withholding is being deducted from Olivia's paycheck? A) tax exemption B) local withholding C) state withholding D) Social Security withholding
Answers (1)
A popular variation of the accounts receivable turnover is the a. credit risk ratio. b. concentration of credit risk. c. bad debts ratio. d. average collection period.
Answers (1)
When Japan exports goods to the United States, which Country shows a balance of payments credit
Answers (1)
Love Company's accounting records show an after-closing balance of $42,100 in its Retained Earnings account on December 31, 2018.
Answers (1)