How will the following items affect the pass book balance?  Direct payment by customer into the back account. Interest on investment collected by the bank.

Q: In quickbooks, Describe the steps used to record an automatic loan payment that appears on a bank…

A: QuickBooks is an accounting software developed to record and manage the loan account, loan payments,…

Q: The "Select Payments Included in This Deposit" se

A: The "Select Payments Included in This Deposit" section of the Bank Deposit form lists Payment…

Q: In preparing a bank reconciliation, explain how you would do the reconciliation if the bank…

A: Bank reconciliation statement is a statement prepared to reconcile the balance as per bank statement…

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: How will a company’s bank reconciliation reflect an electronicdeposit of cash received by the bank…

A: Bank reconciliation statement:   Bank reconciliation statement is a summary of the banking and…

Q: Incorporate the following data into Bank X's revenue statement. Each item should be labelled and…

A: Financial Statement: financial statement is an organized information about the financial position…

Q: Will journal entries be necessary based on the book or bank adjustments you discovered in the bank…

A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: Why should cash receipts be deposited on the day of receipt?

A: Cash receipts refers to the money received in the form of cash on a specific date or during a…

Q: How are sales to customers using credit cards recorded?

A: Net sales means the amount of revenue earned and cost of goods sold means the cost of goods which…

Q: On a bank reconciliation. Deposit in transit is.....?

A: Bank reconciliation is a method of reconciliation of balance in bank book with the total of balance…

Q: In a bank reconciliation, a bank service charge is O added to the bank balance. deducted from the…

A: Preparation of bank reconciliation statements is prepared by the management at a particular time…

Q: After preparing a bank reconciliation, what adjustments does the company need to make to its…

A:

Q: Explain the treatment of certified check for bank reconciliation purposes

A: Solution A certified check is a check for which issuing bank guarantees the availability of cash in…

Q: •Pass the journal entries and •Show the discount and interest and rebate on bills discounted account…

A: (i) October 20: all 2 months fall in the year 2017, hence no rebate on bills discounted. (ii)…

Q: When preparing bank reconciliation, bank credits are O added to the bank statement balance O…

A: The Bank reconciliation statement explains the differences in balance as per books with the balance…

Q: Why should purchases to credit customers and cash receipts from credit customers be quickly…

A: sales can be either cash sales or credit sales. Credit sales will have accounts receivables or…

Q: Why should cash receipts from credit clients and sales to them be instantly documented and posted?

A: Introduction: Accounting focuses on recognizing, documenting, measuring, and summarizing…

Q: What is the adjusted balance on the bank reconciliation? (See image of additional info)

A: Cash balance as per bank statement 12,175 Add: Deposits in transit 1800   13,975 Less:…

Q: Which of the following best describes a voucher? A supporting document prepared for each cash…

A: A voucher checks are commonly used by a company's payroll department and are referred to as payroll…

Q: Summarize the procedures to follow when accepting credit cards, bill-to-accounts, cash, checks, and…

A: There are different methods through which the customers make the payment to the company like for the…

Q: Why might a business prefer a note receivable to an account receivable?

A: An account receivable is a simple promise to repay the seller done by customer which is due as a…

Q: Which of the following is an appropriate reconciling item to the balance per bank in a bank…

A: Bank reconciliation refers to the method used by the company to match the bank statement as well as…

Q: what is procedure to posting account payab

A: Answer : The cash disbursement Journal is an  Accounting Form used to record all the cash outflow.…

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: . A cash remittance from the branch to the home office is recorded by the home office as a. Debit…

A: Cash Remittance from branch to home Office is recorded by the Home office as   Journal Entry will be…

Q: Which account in the bank helps the customers to deposit and withdraw when they need it? a. Savings…

A: Introduction: Banks: Banks accepts deposits from customers and gives loans to who are needed. It…

Q: What is your preparation in doing bank reconciliation? Can you be able to reconcile bank to book…

A: The answers for the questions on Bank Reconciliation Statement are discussed hereunder : Bank…

Q: Interest received by the bank on behalf of the customers is: Added to cash balance Deducted from…

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

Q: What is the adjusting entry of Bank Reconciliation : Credit Memo- Proceed Bank Loan

A: Credit memo - proceed bank loan : A bank's credit memo is defined as the item where the bank account…

Q: Which one of the following is true of a signature​ card?         A. It is the same as a deposit…

A: Solution: A signature card is a document that a bank kept it with the signatures of all the…

Q: Which of the following accounts will not be used in case a security is discounted or collected to…

A: The bank will provide a facility for short-term loans by taking the accounts or notes receivables of…

Q: what is procedure to posting account payable ledger in cash disbursements system

A: Accounts payable forms a part of current liabilities and represents the amount that the entity owes…

Q: Why does a bank credit a customer's account when the customer makes a deposit and debit the account…

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

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: A bank statement provided by the bank includes: Multiple Choice A list of outstanding checks. A list…

A: A bank statement  is consists of cash deposits and withdrawal  in a printed form

Q: What are two common methods used when accepting deposits for credit card and debit card…

A: Two common methods for deposits of proceeds from credit card sales are: Gross method Net method

Q: In a bank reconciliation, interest revenue earned on your bank balance isa. added to the book…

A: Bank Reconciliation Statement: Bank statement is prepared by bank. The company maintains its own…

Q: When a company records a bank deposit, it will: O A. credit the Cash account on the company's books.…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: Why is it necessary to record journal entries after the bank reconciliation has been prepared? Which…

A: Bank reconciliation statement: A bank reconciliation statement (BRS) is a statement which is used to…

Q: what happen to the account if the owner pay trade payable using own personal bank?

A:

Q: Which of the following is a book reconciling item? a.notes receivable collected by the bank b.cash…

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

Q: ould be recorded using the Bank Deposit form?

A: Transaction types should be recorded using the Bank Deposit form are :  A. Cash received from loans.…

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.