On the bank reconciliation, outstanding checks should be: a. Added to the balance on bank statement. b.
Question:
On the bank reconciliation, outstanding checks should be:
a. Added to the balance on bank statement.
b. Deducted from the balance on bank statement.
c. Added to the balance in books.
d. Deducted from the balance in books.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
Step 1 Bank Reconciliation Statement Bank statement is prepared by bank The compan...View the full answer
Answered By
Marvine mabiya
i am a graduate of kirinyaga university degree of statistics
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
On May 2, 2016, PHF Vacations received its April bank statement from First City Bank and Trust. Enclosed with the bank statement, which appears below, was a debit memorandum for $210 that covered an...
-
The following information was taken from the books of Orlando Pirates Traders for April and May 2020. Table of items appearing on the bank reconciliation statement of Orlando Pirates Traders for...
-
The auditor of Cubs obtained the following client-prepared bank reconciliation: The auditor for Cubs Co. has obtained the client-prepared bank reconciliation. The following information is available: ...
-
In Problems 67 90, multiply the polynomials using the special product formulas. Express your answer as a single polynomial in standard form. (x-4)
-
This problem builds on the previous problem using the same parameters, only valuing a call option instead of a bond. Using Monte Carlo, simulate the Vasicek process for 3 years. For each simulation...
-
Tartaric acid is a weak diprotic fruit acid with Ka1 = 1.0 103 and Ka2 = 4.6 105. a. Letting the symbol H2A represent tartaric acid, write the chemical equations that represent Ka1 and Ka2. Write...
-
State the form of the Laplace equation in axisymmetric spherical coordinates. Verify that the following functions satisfy this equation: \[r \cos \theta ; \quad \cos \theta / r^{2}\] A linear...
-
Luke Gilbert is to retire from the partnership of Gilbert and Associates as of March 31, the end of the current fiscal year. After closing the accounts, the capital balances of the partners are as...
-
2-1. GASB Concepts Statement No. 3 discusses various methods of communicating financial accounting information to users. One method is using required supple- mentary information (RSI). What is RSI,...
-
The director of the West Arbor Senior Center decides to put together a database on the centers activities. The center currently takes written records of services provided to clients, but the director...
-
Johnson Corporation received a bank statement showing a balance of $15,900 as of October 31, 20X1. The firms records showed a book balance of $15,572 on October 31. The difference between the two...
-
Which journal entry could be used to record the replenishment of the petty cash fund? a. Debit Petty Cash, credit Cash b. Debit Supplies, debit Delivery Expense, credit Cash c. Debit Supplies, debit...
-
Suppose that 3 < f(x) < 5 for all values of x. Show that 18 < f(*) f(2) < 30.
-
1. LookGood, Inc. has just announced the bad news that its earnings have dropped by 30 percent. In fact, its investors had anticipated a decrease of 20 percent. As a result, LookGood's stock price:...
-
You arrive at your first client meeting with Jaba's Smoothie Hut. Jaba's owner, Kim, has asked you to install a Wi-Fi network for his customers. Kim has told you that the store needs the following:...
-
Magnolia, Inc., manufactures bedding sets. The budgeted production is for 28,400 comforters this year. Each comforter requires 7 yards of material. The estimated January 1 beginning inventory is...
-
2. A person has completed a pre-license course of 63 classroom hours, 50 minutes each. At the end of the course she scored an 85% on the test and she has filed the appropriate fees and paperwork to...
-
The charter of a corporation provides for the issuance of 125,000 shares of common stock. Assume that 55,000 shares were originally issued and 13,400 were subsequently reacquired. What is the number...
-
The rooted Fibonacci trees Tn are defined recursively in the following way. T1 and T2 are both the rooted tree consisting of a single vertex, and for n = 3, 4, . . . , the rooted tree Tn is...
-
Explain why it is not wise to accept a null hypothesis.
-
What types of assets are subject to depreciation? Give three examples of such assets.
-
What types of assets are subject to depreciation? Give three examples of such assets.
-
Explain the meaning of the following terms that relate to depreciation: a. Salvage value b. Depreciable base c. Useful life d. Straight-line method
-
Considering the value X given in table 01, set up engineering economics relations to compute the equivalent value in Year 3 for the cash flow estimates in following figure (i-X per six months). 0 1 2...
-
What important points should every homeowner know about how mortgages work?
-
If a suit is worth $ 2430 today and inflation in the year was 4.75%, how much did the same suit cost a year ago?
Study smarter with the SolutionInn App