50) The following pertains to Carlisle Company:
1. Balance per bank statement, dated March 31, $4,450.
2. Balance of Cash account on company's books at March 31, $4,459.
3. The $1,300 deposit of March 31 was not on the bank statement.
4. Of the checks recorded as cash disbursements in March, some checks totaling $1,050 have not cleared the bank.
5. Service charges for the month, $10.
6. The bank erroneously charged the company's account for the $200 check of another company with a similar name.
7. The bank credited the company's account with the $1,000 proceeds of a noninterest-bearing note that it collected for the company.
8. NSF check of $75 was returned with the bank statement.
9. The bank paid and charged to the company's account a $507 noninterest-bearing note of the company. The payment has not been recorded by the company.
10. The bookkeeper recorded a customer's check of $148 as $135.
11. The bank credited the company's account for $20 interest earned.
Prepare the bank reconciliation as of March 31.
51) The following are examples of items that appear on a bank reconciliation. Classify each item as (a) an addition to the bank balance, (b) a subtraction from the bank balance, (c) an addition to the book balance, or (d) a subtraction from the book balance.
1. NSF check
2. Deposits in transit
3. Interest revenue on checking account
4. Bank error - the bank credited the company's account for a deposit made by another customer
5. EFT rent collection
6. Service charge
7. Book error - the company credited cash for $100 when the correct amount was $1,000
8. Outstanding checks
9. Bank collection of a note receivable on behalf of the company