Discuss how Unpresented Cheque and Uncredited Cheque contributes to the disagreement between cash and bank balance?

Q: Outstanding checks: Group of answer choices Have not been received by the bank for processing Are…

A: Outstanding checks are those that the business has written to a supplier but these have not been…

Q: The following are the reasons for dissimilarity between balances in the bank statement and the cash…

A: Dissimilarity between bank statement and cash book occurs due to various factors like Dishonored…

Q: Which of the following adjusts the bank's balance of cash in a bank reconciliation?  (More than one…

A: >Bank reconciliation statement, is a statement prepared on a particular date, to reconcile the…

Q: In preparing a bank reconciliation statement, which of the following items will not be included the…

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

Q: The following items will result in a difference between the balances in the bank statement and the…

A: Introduction: Bank reconciliation statement: Its a statement prepared by the customer of the bank…

Q: Which of the following has incorrect treatment for the bank and book reconciling items assuming…

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

Q: On a bank reconciliation, the adjusting entry to record collection of notes should be: dehit te

A: Notes recievable are claims against debt. These include a written promise made to pay money at some…

Q: If the balance shown in the bank statement is less than the correct cash balance and neither the…

A: A bank reconciliation statement (BRS) refers to a statement drawn up by the business to verify the…

Q: How will the following items affect the pass book balance?  Direct payment by customer into the…

A: Pass book: A pass book issued by bank to its customers for the transactions carried out with bank…

Q: Which of the following bank reconciliation adjustments would result in an increase to the company's…

A: Bank reconciliation is used for reconciling the balance in the banks books with that of the balance…

Q: Why may there be a difference between the bank statement ending cash balance and the ending balance…

A: Timing differences: When accounting records are maintained by both bank and business, time interval…

Q: cash balance

A: If the cash balance shown in the company’s cash records is more than the correct cash balance and…

Q: True or false Check number indicates the details of the check paid by the bank. The recipient of the…

A: Check numbers are for your reference so you can keep track of transactions. The bank doesn't rely on…

Q: ifferences between the amount of cash reported on a company’s bank statement and the balance in the…

A: Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

Q: Direction: Explain the relationship of CASH, CHECKS, BANK STATEMENT, AND BANK RECONCILIATION.

A: Answer: Cash is the asset that is being hold by the company.  Checks are the document that are…

Q: The proper treatment of outstanding cheques Is to report them in the bank reconcillation as which of…

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

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: For each of the items indicate whether its amount affects the bank or book side of a bank…

A: A bank reconciliation statement aligns an organization's bank account with its financial documents…

Q: bank balance in the cash book and that of the bank statement

A: Bank balance in cash book means amount of balance of bank ledger in the books of the entity/person…

Q: Explain the purpose of performing bank reconciliation. b. State possible reasons why there is an out…

A: Bank reconciliation statement: It is the process performed by the firm to ensure the balance between…

Q: In preparing a bank reconciliation, the amount of deposits in transit is deducted from the balance…

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

Q: Cash on the Balance Sheet does not include: Multiple Choice Cash in the bank, Petty cash. Short-term…

A: Cash is an asset that is reported as a current asset on balance sheet. Cash account refers to those…

Q: List two items often encountered in reconciling a bank state-ment that may cause cash per the bank…

A: Firm records every transaction in its cash book. Bank also open ledger account for that firm. The…

Q: On a bank reconciliation, the adjusting entry to record interest carned should be: OA. O B. OC. O D.…

A: Bank reconciliation statement is the statement which is prepared to reconcile cash balance as per…

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: Explain with figures why your company’s cash book balance will not agree with the bank statement…

A: Explain with figures why your company’s cash book balance will not agree with the bank statement…

Q: Which of the following decreases a company’s cash balance? deposits in transit bank deposit slips…

A: Bank reconciliation is a process of matching the balance of cash as per the cash book of an…

Q: The bank balance in the cash book and that of the bank statement may disagree because of…

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

Q: Prepare the Bank Reconciliation Statement using Adjusted Balance Method

A: Adjsuted bank book of the company Particulars Amount Balance as per Company’s books 967…

Q: On a bank reconciliation, the amount of an unrecorded bank service charge should be: Multiple Choice…

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

Q: QUESTION 1 a) Explain the reasons for the difference between the cash book and bank statement. b)…

A: Cash book is the book in which all the transactions of the business which involves cash is recorded.…

Q: why is there generally a difference between the balance in a cash account on the company's books and…

A: The statement of Bank reconciliation is a report that matches the money balance on an organization's…

Q: na bank reconciliation, an outstanding check is O A. deducted from the book balance. O B. deducted…

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

Q: Which of the following must be deducted from the bank statement balance in preparing a bank…

A: Bank reconciliation is important for better Internal control because it provides the clear picture…

Q: Which item is not considered cash and cash equivalents on the balance sheet? a. Unrestricted funds…

A: Cash equivalents are the near-cash items, which are readily convertible into cash. Cash equivalents…

Q: Both Accounts Receivable and Notes Receivable represent claims that are expected to be collected in…

A: Answer is true

Q: Which one of the following items requires an adjustment on the bank side of the bank​…

A: An error on the bank side or any omission in the bank statement requires an adjustment on the bank…

Q: In the reconciliation of a bank statement, "deposits in transit" should be: a. added to the…

A: Deposits in transit are the amount of cash that has been deposited by the business but has not been…

Q: Which of the following adjusts the bank’s balance of cash in a bank reconciliation? a. NSF checks.…

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

Q: Which of the following adjusts the company’s balance of cash in a bank reconciliation? a. Interest…

A: The statement of Bank reconciliation is a report that matches the money balance on an organization's…

Q: Which of the following will NOT require an adjusting entry when reconciling the bank statement? O…

A: Bank reconciliation is a statement prepared to match bank account balance as per cash book and bank…

Q: The bank statement showed a non-interest bearing note receivable from a customer that was collected…

A: Bank reconciliation is the statement that shows the differences in the cash balances as per pass…

Q: Identify transaction NOT belonging to Cash Equivalents O a. Bank Balance O b. Bank Overdraft O c.…

A: Cash equivalents are the items that are equivalent to cash means either thise are cash ready or…

Q: difference between a debit order and a stop order

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