Quizizz 4.2.3/4.2.4 Banking Activities

After a bank reconciliation is complete, which of the following types of adjustments should be journalized?

• adjustments per books

• adjustments per bank

• adjustments per cash

• adjustments per books and bank

Service fees, transfer fees, and ATM fees _____ the bank account

• are added to

• are deducted from

• are not added to or deducted from

• are both added to and deducted from

Corrected bank errors _____ the bank account.

• are only added to

• are only deducted from

• may be added to or deducted from

• are not added to or deducted from

Deposits in transit and outstanding checks _____ the bank account.

• may be added to or deducted from

• are deducted from

• are added to

• are not added to or deducted from

Interest earned and notes receivable collected _____ the bank account.

• are added to

• are deducted from

• are not added to or deducted from

• are both added to and deducted from

What type of account is almost always included in all journal entries for banking activities?

• accounts payable

• cash

• accounts receivable

• expense

After a bank reconciliation has been completed, these transactions are listed as _____ to the cash balance.

• credits

• journal entries

• adjustments

• debits

What type of fee is related to customers who do not have the funds in their own checking accounts to cover the payment?

• service fees

• overdraft fees

• processing fees

• NSF fees

Which of the following would occur in a journal entry to record a check-printing charge?

• a credit to cash

• a debit to revenue

• a credit to expense

• a debit to payable

A service fee charged by the bank would fall under which account?

• revenue

• expense

• cash

• receivable