Bank reconciliations are typically prepared for... A. Savings Accounts B. Current Accounts C. Time Deposits D.Credit Accounts  The cash ledger showed a balance of P2M, while the bank statement showed a balance of P800,000. What item must be reconciled to balance the cash ledger and bank statement? A. P1.2M deposit in transit B. P1.2M outstanding check  C. P1.2M book error  D. P1.2M debit memo Which of the following is not a bank reconciling items? A. Deposit in Transit B. Credit Memo C. Bank Error D. Outstanding Checks

College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
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Bank reconciliations are typically prepared for...

A. Savings Accounts
B. Current Accounts
C. Time Deposits
D.Credit Accounts 

The cash ledger showed a balance of P2M, while the bank statement showed a balance of P800,000. What item must be reconciled to balance the cash ledger and bank statement?

A. P1.2M deposit in transit
B. P1.2M outstanding check 
C. P1.2M book error 
D. P1.2M debit memo


Which of the following is not a bank reconciling items?

A. Deposit in Transit
B. Credit Memo
C. Bank Error
D. Outstanding Checks

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