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Step 1: Identify outstanding deposits and bank errors that need to be added to the current bank statement balance. m m to be subtracted from o om and bank errors h Step that the current .c 2: Identify outstanding .cchecks .coneed .com .com h h h h b b b b b bank statement .uob .uob balance. .uob .uob .uob w w w w w w to our balance by the Step 3: Identify added bank ww ww amounts collected by the wwbank (notes), amounts w ww (interest on account), and any errors made by the company, when recording the to be added to the current m book balance. m transactions, that need m o o o c c c . . . .com that .com Step 4: Identify bank service charges, NSF checks, and any errors made by the company h h h h h b b b b b obobobobobneed to be subtracted from the current w.u w.u w.u book balance. w.u w.u
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Any differences between the cash register tape totals and the actual cash receipts is charged against the cash short and over account. m com com on the Income Statement If the ending balance of account is a debit it is .co .the .shown .com as a .com h h h h h b b b b b .uob miscellaneous expense. .uob .uob .uob .uob w w w w w w a credit it is shown on w w Income Statement as Other If the ending the ww ww balance of the account wis ww Revenue.
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Chapter 7 Notes
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