9. The following are book reconciling items, except:    a. Debit memo b. Credit Memo c. NSF Check d. Outstanding Checks

Q: The adjusting entry to record an NSF check includes a credit to accounts payable  a debit to vash…

A: Non-sufficient fund: When a checking account holder is overdrawn, that is, there isn't enough cash…

Q: the home office records inventory shipments to the branch by debiting the "shipments to branch…

A: The shipment to branch accounts of the home office is a “contra purchases” account on the books of…

Q: Net float is A. The difference between the amount of assets and liabilities. B. It is an account in…

A: The question is multiple choice question  Required  Choose the Correct Option

Q: Which of the following are unique identifiers associated with checking accounts? account number O…

A: Account number: An account number is a unique identifier for your personal bank account. It tells…

Q: Identify the wrong statement relating to receivables ledger:

A: Solution: Following statements are true with respect to receivables ledger: 1. All entries made in…

Q: Consider the following information items as you respond to the question: i. Customer master file…

A: The five basic elements of AIS system are: 1. Output 2. Input 3. Storage 4. Internal control 5.…

Q: When a customer deposit is recorded using the Make Deposits window, behind the screen QuickBooks…

A: Journal entries refer to the recording of transactions in an appropriate way. With the help of…

Q: 66. The controlling account in the general ledger that summarized the individual accounts with…

A: Creditors are persons from whom a business has made credit purchases on account and the amount has…

Q: Francis 31, but at Open so that r which cash Dec. Check on which inventory.

A: Working capital: It shows the difference of a company's assets and its current liabilities.

Q: This refers to the process of transferring the debit and credit amounts from the journals to the…

A: The correct option in the given question is: POSTING   Journal entries are posted to ledger…

Q: Which is not a book reconciling items? A. Credit Memo B. NFS Checks C. Debit Memo D. Outstanding…

A: The bank reconciliation statement is prepared to to record and equate the book balance and bank…

Q: A credit memorandum results in a(n) ___ in a customers accounts receivable file. A. memo B.…

A: Credit memo - Indicates a decrease in the amount of customer owed to the seller. Components of the…

Q: A credit memorandum will show the collection of a note receivable by the bar True False

A: A credit memo is a commercial document sent by a supplier to a customer indicating that the amount…

Q: - 24. Auditors may use positive or negative forms or confirmation requests for accounts receivable.…

A: Introduction:- An auditor is a person or an organization that a corporation hires to conduct an…

Q: Identify the normal balance (debit [Dr] or credit [Cr]) for each of the following accounts. Note…

A: Note receivable refers to a note such as promissory note issued by a receiver of loan to issuer of…

Q: Choose the correct answer: 5. Which of the following is considered effective? a. Certificates of…

A: Money Market Checking Accounts: A money market account, sometimes known as a money market deposit…

Q: A tear-off part of a check that has a simple explanation of the reasons for the payment is called:

A: The Check has Different Features which enables the User to utilize to its best use. The Tear Off…

Q: 7. What is the purpose of double entry bookkeeping system?    A. To avoid careless mistakes.  B. To…

A: Double entry book keeping is a system in accounting which says that in recording every transaction…

Q: 0 Confirmation of a credit may be given by______ A, the beneficiary at the request of the importer…

A: Banks provide credit to customers for doing business and this help to grow business.

Q: why is a note receivable moved to accounts receivable prior to being written up and sent to…

A: Notes receivable indicates the promissory notes issued by the client for making due payment on a…

Q: the remittances received in the mailrrom should be forwarded directly to who? 1cashier 2billing…

A: The cash receipts system governs the procedure through which any cash inflows will be recorded in…

Q: 1. Using the quick tests for locating errors, find the error in each of the two questions below.…

A: Ledgers - After recording transactions in the journal next step is to transfer them into ledgers.…

Q: balance or deducted from the book or bank account by putting (/) check mark or (x) cross mark on the…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Accounting information systems have five generic parts. Outputs of the purchases and cash…

A: Accounting is the process of recording, classifying and summarising all financial information in…

Q: I. When the check has been encashed II. When through the fault of the creditor the check has been…

A: A cheque is an instrument or document that orders the bank to pay the specific amount mentioned in…

Q: 4. Define the following bank reconciliation terms: Deposit in transit: Outstanding check:

A: Bank reconciliation is a statement which is prepared to reconcile the difference between bank…

Q: 25) How is the total of the purchases daybook posted to the nominal ledger? A. Debit purchases,…

A: The journal entries are used to record the financial transactions. It is also used to prepare the…

Q: What entry is required in the company's accounts to record outstanding checks? Oa. debit Accounts…

A: Outstanding check: When company issue the check to the vendor/creditors but they do not present the…

Q: 46) The journal entry behind the screen that QuickBooks creates when a bill is recorded using the…

A: Journal entry is the initial stage of accounting whereby all the transactions are chronicled in the…

Q: Indicate the missing posting reference and amount in the control account, and the missing ending…

A: Accounts Payable means accounts of those suppliers from whom business has made credit purchases on…

Q: Use the journals and ledgers that follow. Total the journals. Post the transactions to the…

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS      Subsidiary Ledgers…

Q: 10. The following are bank reconciling items, except:      a. Deposit in transit   b. Bank errors…

A: a. Deposit in transit - These are not recognised in bank reconciliation statement…

Q: Explain the differences between a CD, a checking account, and a saving account.

A: Introduction: CDs are short for certificate of deposits. CDs provide small business owners with…

Q: Suggest Four reasons why there might be difference between the balance on the receivable ledger…

A: A control account is a general ledger that contains a single debit or credit balance which is the…

Q: Distinguish among the following: (1) a general checkingaccount, (2) an imprest bank account, and (3)…

A: (1) A general checking account is the frequently used leading bank account of the companies, through…

Q: What step completes the process for adding all of these transactions to the bank feed at the same…

A: A bank feed is a digital link between your bank account and accounting software, automatically…

Q: 6. Indicate whichjoumal would be used to record the following transactions. Select from the…

A: Sales Journal – For all credit sales of inventory Purchase Journal – For all credit purchase of…

Q: What are mistakes committed by the drawer? C. Deposit in transit D. NSF Check A. Bank errors B. Book…

A: Bank reconciliation statement: The bank reconciliation statement (BRS) is prepared to reconcile the…

Q: d. ac EXCEPT a. the number of the check issued. b. the name of the supplier or other accounts…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following modes of disbursement is most similar to a check disbursement?

A: Disbursement in the basic terms refers to the payment of funds in exchange for the services taken by…