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Which of the following items on a bank reconciliation would require an adjusting entry on the company's books?
Wiki User
∙ 11y ago
After a bank reconciliation is prepared, prepare an adjusting journal entry on the company's books for all items that were recorded by the bank, but not recorded in the books. These usually include:
- Corrections made by the bank
- Bank fees
- Interest income recorded by the bank
- Insufficient fund (NSF) checks
- Electronic Fund Transfer (EFT) deposits made to the bank account, but not recorded in the books.
Wiki User
∙ 11y ago
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Which items found on a bank reconciliation doesn't require an adjusting entry?
Balance doesn't require an adjusting entry.
WhAT accounts will never require an adjusting entry?
Cash
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What items on a bank reconciliation would require an adjusting entry on the companys books?
Examples of items on a bank reconciliation that would require an adjusting entry on the company's books include bank fees, NSF checks, interest income, deposits in transit, and outstanding checks. These items may not have been recorded in the company's books at the time of the reconciliation, so adjusting entries are needed to bring the books into agreement with the bank statement.
Which items found on a bank reconciliation doesn't require an adjusting entry?
Balance doesn't require an adjusting entry.
WhAT accounts will never require an adjusting entry?
Cash
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