LO-Ch7 - 2 Errors Subtract 1 NSF Cheques Charges 2 Bank...

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November 16 th , 2009 Learning Objectives: Chapter 6: Measuring Inventory by Applying Perpetual & Periodic Systems Chapter 7: Internal Control of Cash 1. Bank Reconciliation Book Balance Bank Balance Add: 1. Note Collection 2. Interest Receipts 3. Errors Add: 1. Deposits in Transit
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Unformatted text preview: 2. Errors Subtract: 1. NSF Cheques + Charges 2. Bank Charges + Interest Expense 3. Errors Subtract: 3. Outstanding Cheques 4. Errors Reconciled Book Balance = Reconciled Bank Balance 2. Journal Entries Required: Book side ± (only) Exercise: P7-3A, P7-5A...
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This note was uploaded on 06/18/2011 for the course MGT b05 taught by Professor Liang during the Spring '11 term at University of Toronto.

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