Learning Objective 6 S-F:8-7 Understanding bank account controls Answer the following questions about the controls in ba

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Learning Objective 6 S F 8 7 Understanding Bank Account Controls Answer The Following Questions About The Controls In Ba 1 (146.33 KiB) Viewed 169 times

Learning Objective 6 S F 8 7 Understanding Bank Account Controls Answer The Following Questions About The Controls In Ba 2 (123.9 KiB) Viewed 169 times

Learning Objective 6 S-F:8-7 Understanding bank account controls Answer the following questions about the controls in bank accounts: Requirements 1. Which bank control protects against forgery? 2. Which bank control reports the activity in the customer's account cach period? 3. Which bank control confirms the amount of money put into the bank account? Learning Objective 6 S-F:8-8 Identifying timing differences related to a bank reconciliation For each timing difference listed, identify whether the difference would be reported on the book side of the reconciliation or the bank side of the reconciliation. In addition, identify whether the difference would be an addition or subtraction. a. Deposit in transit b. Bank collection c. Debit memorandum from bank d. EFT cash receipt e. Outstanding checks f. $1,000 deposit erroncously recorded by the bank as $100 g. Service charges h. Interest revenue i. $2,500 cash payment for rent expense erroneously recorded by the business as S250 j. Credit memorandum from bank Learning Objective 6 S-F:8-9 Preparing a bank reconciliation The Cashbaccount of Card Da Secure Sisteme renosted halmacenf $2.540 P

Learning Object a S-F:8-9 Preparing a bank reconciliation The Cash account of Guard Dog Security Systems reported a balance of $2,540 at December 31, 2024. There were outstanding checks totaling $400 and a December 31 deposit in transit of $100. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $3,340. Included in the bank balance was a collection of $510 on account from Brendan Ballou, a Guard Dog customer who pays the bank directly. The bank statement also shows a $30 service charge and $20 of interest revenue that Guard Dog earned on its bank balance. Prepare Guard Dog's bank reconciliation at December 31.