business cash consist of many things. Identify which one of the following will be considered as cash? a. Post Dated Cheques. b. Credit card. c. Bank drafts. d. Travel Advance

Q: Required: You expected to prepare a cash book

A: Cash book is the book in which all the transactions of the business which are in cash means all the…

Q: When cash is drawn from bank for business use the entry type will be? Select one: a. Contra entry b.…

A: a. Contra Entry - These are the transactions that involves  cash and bank account. b. Compound Entry…

Q: Which of the following item, have been recorded on the company's books but not yet by the bank: ered…

A: Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from…

Q: Identify each of the following reconciling items as part of the cash reconciling process as: (A)…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Cash in bank account balance Bank statement balance Bank debits Bank credits Peol dehit

A: Reconciliation Statements-:A Reconciliation Statement is a statement that commences with a firm's…

Q: Use the following to answer questions 1 – 4 | Determine whether the firm reports each of the…

A: Lets understand the basics. Cash and cash equivalent is a item which is either cash or can be easily…

Q: Write the cash book up to date to take the above into account, and then (b) Draw up a bank…

A: The bank reconciliation statement can be defined as the financial statement being prepared by the…

Q: Debate the logic used in the following statement: “The person responsible for handling cash receipts…

A: It may be true that the person responsible for handling cash receipts is more familiar with the…

Q: A minimum cash balance required by a bank is called a.a compensating balance b.an EFT c.cash in…

A: Minimum cash balance : Customers of bank need to maintain minimum balance on their accounts. Minimum…

Q: Select the Correct Answer:When a firm maintains a cash book, it need not maintain :(i) Journal…

A: Transaction: The economic events which bring about any changes in the financial items of a business…

Q: Which one of the following is not considered as cash? a. Credit card. b. Debit Card c. Bank…

A: Debit card is used to make online payment.

Q: Which of the following is issued by a company to the responsible staff in order to establish a petty…

A: The petty cash fund is established for daily basis small cash expenses of the business.

Q: Which of the following entries records the collection of cash from cash customers?   Question 9…

A: Collection of cash from cash customers means cash is receive from sale or service.

Q: State the reasons of the following statement:  The balance in the cash column of the cash book is…

A: a.   Cash column of cash book will always show debit balance because cash payment can never exceed…

Q: Which of the following is considered cash? a. Thirty-day certificate of deposits b. Customer’s…

A: Cash is very important current asset for the business, which is shown in balance sheet of the…

Q: 1. Advances for travel expenses are reported as: a. Supplies b. Cash, since they are…

A: Cash and Cash Equivalents - Cash and Cash equivalents are the items which can be converted into cash…

Q: Examine and Understand the Bank Statement and the Cash-in-bank Ledger. Prepare a Bank Reconciliation…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Q: The actual cash received from the day’s cash sales was $27,214, and the amount indicated by the cash…

A: Cash register record the amount of cash received in a given day and it should match with cash in…

Q: Using the following information related to Lo-Sag Constructions find out the Bank Balance as per…

A: A bank reconciliation statement is a statement prepared by the entity to compare the balance of the…

Q: Which one of the following is considered as cash? a. Post Dated Cheques. b. Certified Cheques. c.…

A: Cash and cash equivalent is the part of current assets which are reported on the balance sheet of a…

Q: Which of the following statements is TRUE? a. Companies include postdated checks and petty cash…

A: A . Companies include postdated checks and petty cash funds as cash.   Answer : False Reaso: Petty…

Q: additional loan from bank should it be included in cash at hand/cash on bank

A: The company maintain certain amount of the cash for working capital management and smooth operations…

Q: Required: [Dikehendaki:] a) Prepare the updated cashbook. [Sediakan buku tunai dikemaskini.] h)…

A: BRS

Q: Please answer all the following questions as appear in the pictures, below: 1- Cash Receipts and…

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Q: . Which of the following is usually considered cash?    a. Certificates of deposit b. Checking…

A: Cash means cash on hand and demand deposits.

Q: A cash book is used to record

A: A cash book contains all cash receipts and payments transactions in detail, including bank deposits…

Q: Presented hereunder. are the details of your Cash Receipts Journal, Cash Disbursements Journal and…

A:

Q: Determine whether the firm reports each of the following items as part of cash and cash equivalents…

A:

Q: Which of the following statement is prepared to identify the discrepancies between the cash balance…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: Which of the following should be considered cash equivalents? Post-dated checks Money market with…

A: Cash and cash equivalent means the amount of cash , bank or highly liquid marketable securities…

Q: s: Write the letter "T" if the er in the space provided before each number. 1. Bank reconciliation…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Explain book debits and book credits, bank debits, and bank credits. What is proof of cash and its…

A: In books, all the debits and credits are related to assets, liabilities, revenue, and expenses.…

Q: Lightwell LLC a client of Sun Electronix LLC deposited OMR 5000 directly in the account of Sun…

A: Ideally, bank balance as per cash book and bank balance as per bank statement should reconcile. If…

Q: 1. It is a bank account wherein the depositor can draw checks. a. Drawing account b. Savings account…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: All of the following is included in the "cash and cash equivalent", except: O A. Certified checks…

A: Solution: Cash and cash equivalents are cash and assets and securities that readily convertible into…

Q: Select the banking terms from drop down to match with the correct definition. Definitions…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: From page 4-4 of the VLN, in a bank reconciliation how are outstanding deposits treated? Group of…

A: By summarizing banking and commercial activity, a bank reconciliation statement reconciles an…

Q: To deposit money in your business's bank account you should use O A cheque book O A bank statement O…

A: The Question has covered the concept of Cheque book, deposit slip, withdrawal slip, bank statement.…

Q: a) Prepare the journal entries to establish the petty cash fund on March 5. b) Prepare the journal…

A: (a) Journal entries to establish the petty cash fund on March 5. March 5 Petty Cash $250.00…

Q: This is a bank account used to deposit and withdraw money using the bank branch, using an ATM or…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: The sales journal is used to record______.      cash      sales on account      debit…

A: Sales journal is used to record all the account sales entries but it does not includes cash sales…

Q: Cash Beginning Balance Cash Sales Disbursements Collections -Other Receipts Ending Balance

A: Cash is the asset for the company. The normal balance is the debit balance of cash account. It shows…

Q: With good internal controls, the person who handles cash can also a. account for cash payments. b.…

A:

Q: 27. Which of the following is/are helpful to control cash receipts of a company? a. Prepare a record…

A: Internal control means the ways of doing the business and kept a control over the activities of…

Q: 1. A special journal contains columns for Cash, Purchases Discounts and Accounts Payable. This…

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