McIntyre Company adheres to a policy of depositing all cash receipts in a bank account and making
Fantastic news! We've Found the answer you've been seeking!
Question:
McIntyre Company adheres to a policy of depositing all cash receipts in a bank account and making all payments by check. The cash account as of December has a credit balance of $ and there is no undeposited cash on hand. a Assuming no errors occurred during journalizing or posting, what caused this unusual balance? b Is the $ credit balance in the cash account an asset, a liability, stockholders equity, a revenue, or an expense?If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records?
Related Book For
Linear Algebra And Its Applications
ISBN: 9781292351216
6th Global Edition
Authors: David Lay, Steven Lay, Judi McDonald
Posted Date: