Sparrow Corporation The items listed below were identified while preparing a bank reconciliation for the checking account of Sparrow Corporation as of March 31, 2012. Sparrow's balance according to the general ledger ? Bank statement balance $18,500 Outstanding checks 2,700 A customer's NSF check returned by the bank 350 Bank service charges 100 Deposits in transit 1,000 Interest earned on the

checking account 60 Refer to the information presented for Sparrow Corporation. How will the customer's bounced checks be handled within a bank reconciliation?
A) Add to the balance from the company records
B) Subtract from the balance from the company records
C) Add to the bank statement balance
D) Subtract from the bank statement balance


B

Business

You might also like to view...

A good friend has opened up a para-sailing business in Panama City, Florida. In order to advertise the business to spring break tourists, you suggest that he hire a skywriter to fly along the beaches during the day. This form of advertising is considered:

A. radio advertising B. direct marketing C. print advertising D. non-traditional advertising E. outdoor advertising

Business

The customer’s specific desires and frustrations as they relate to a specific use case are known as:

a. Latent Needs b. Annoyances c. Core Needs d. Preferences

Business

Which of the following contributes to an environment that is NOT blame-free?

a. holding regular meetings that review problems to discover who was on duty at the time. b. focusing on the solution when someone reports a problem c. encouraging employees to report a situation that may cause a problem down the road d. distinguishing the difference between acceptable and nonacceptable errors

Business

The Supreme Court interprets the Commerce Clause:

a. to mean that the Court may invalidate legislation enacted by Congress when the activity affects the individual states' regulation of their own role in interstate commerce. b. narrowly. c. as granting the power to Congress to regulate commerce among the states. d. as restricting Congress to the coining of money and taxation.

Business