Question: Why is there generally a difference between the balance in
Why is there generally a difference between the balance in the Cash account on the company’s books and the balance on the bank statement?
Answer to relevant QuestionsIndicate whether the following items in a bank reconciliation should be (1) Added to the Cash account balance, (2) Deducted from the Cash account balance, (3) Added to the bank statement balance, (4) Deducted from the bank ...When the bank statement is received on July 3, it shows a balance, before reconciliation, of $ 5,200 as of June 30. After reconciliation, the adjusted balance is $ 3,100. If one deposit in transit amounted to $ 1,200, what ...On May 1 of this year, Ellsworth and Company established a Petty Cash Fund. The following petty cash transactions took place during the month: May 1 Cashed check no. 956 for $ 150 to establish a Petty Cash Fund and put the $ ...Jim’s Fitness Center deposits all receipts in the bank each evening and makes all payments by check. On April 30, its ledger balance of cash is $ 1,515.10. The bank statement balance of cash as of April 30 is $ 1,920.42. ...For the week ended September 7, the totals of the payroll register for Benton, Inc., are presented at the top of the next page. The regular and overtime earnings are correct. List six errors that exist. None of the employees ...
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