6a) A check returned by the bank marked “NSF” means a. no service fee. b. no signature found. c. not satisfactorily filled-out. d. not sufficient funds.
6b) If the month-end bank statement shows a balance of $58,000, outstanding checks are
$15,000, a deposit of $7,000 was in transit at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is
6c) If a check correctly written and paid by the bank for $724 is incorrectly recorded on the company's books for $742, the appropriate treatment on the bank reconciliation would be to a. add $18 to the bank's balance. b. add $18 to the book's balance. c. deduct $724 from the bank's balance . d. deduct $724 from the book's balance. 6d) A petty cash fund should not be used for a. postage due. b. loans to the petty cash custodian. c. taxi fares.
d. customer lunches.
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