23. Hank Cook is confused about the lack of agreement between the cash balance per books and the balance bank. Explain the causes for the lack of agreement per to Hank and give an example of each cause.
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- Which of the following does not explain the differences between the bank statement balance and the customers cash balance? a. Deposit in transit b. Canceled checks c. An NSF check d. Errors e. Interest incomeWhat does a debit balance in the cash short and over account represent? What does a credit balance in this account represent?35- Which of the following should be done in case of excess cash and the reason cannot be found that day ? a) It is written to the debtor side of the 197 Counting and Receipt Deficiencies Account B) It is written to the debtor side of Account 397 Counting and Receipt Deficiencies NS) It is written to the creditor side of Account 397 Counting and Receipt Deficiencies D) 659 Debited for other ordinary expenses TO) It is written to the creditor side of Account 197 Counting and Receipt Deficiencies
- 28.Which of the following would NOT be classified as cash? a. Company's post-dated checks b. Customer's checks drawn against insufficient funds c. Manager's checks d. Traveler's checksExplain with figures why your company’s cash book balance will not agree with the bank statement balance?Which of the following is not an example of a cash outflow? Select one: a. Purchase of inventory on credit b. pay employee wages and salaries c. cash withdrawal by the owner d. payment of income tax e. payment of accounts payable
- multiple choice question Which of the following statements is false with regard to a Cash Receipts Journal?: All receipts of cash from customers should be recorded in it Receipts of cash from the owner should not be recorded in it Receipt of cash from cash sales should be recorded in it. 4.Receipt of cash from borrowing should be recorded in itWhich of the following statements is false with regard to a Cash Receipts Journal?: All receipts of cash from customers should be recorded in it Receipts of cash from the owner should not be recorded in it Receipt of cash from cash sales should be recorded in it. Receipt of cash from borrowing should be recorded in it.9 - Which of the following should be done if there is a shortage of cash and the reason cannot be found that day ? a) It is written to the creditor side of Account 197 Counting and Receipt Deficiencies B) It is written to the creditor side of Account 397 Counting and Receipt Deficiencies NS) 659 Debited for other ordinary expenses D) It is written to the debtor side of the 197 Counting and Receipt Deficiencies Account TO) It is written to the debtor side of Account 397 Counting and Receipt Deficiencies
- When the amount of cash in the cash register exceeds the amount in the cash register tapes, the difference is debited to Cash Over and Short account.___________. True or false?Question: Why does a company's cash at Bank account and bank statement rarely match? reqiured: please answer this question by stating "why does a company's cash at Bank account and bank statement rarely match?8. Which of the following statement is prepared to identify the discrepancies between the cash balance reported on the bank statement and the cash balance reported in a business’s cash account in the general ledger? a. Cash book b. Balance sheet c. Income statement d. Bank reconciliation