List two items often encountered in reconciling a bank state-ment that may cause cash per the bank statement to be larger than the balance of cash shown in the depositor’s accountingrecords.

Q: Which of the following items is added to the “cash balance from bank statement” on a bank…

A: Deposits in transit: Deposit in transit means the money received by a company and recorded in 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: Which of the following would be added to the balance per books on a bank reconciliation?   Question…

A: In  Cash Book we maintain Cash and Bank columns.  The Bank columns incudes bank…

Q: The amount of the outstanding checks is included on the bank reconciliation as a(n)

A: BRS: Bank reconciliation statement is a report that summarizes the banking and business activity…

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: 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: 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: From page 4-4 of the VLN, in a bank reconciliation how is a NSF check treated? Group of answer…

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

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: bank reconciliation statement preparation

A: Option 1 is wrong because as per bank to book method of bank reconciliation, bank balance is…

Q: The following reconciling items are applicable to the bank reconciliation for the Spahn Company.…

A: Bank reconciliation statement is prepared by almost every organization at a particular time. It is a…

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: In order to verify the accuracy of the accounting records concerning its cash accounts a person…

A: Reconciliation statement is the statement which is used by the company in order to know and check…

Q: Which of the following are reported as liabilities on a bank’s balance sheet?   Group of answer…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: A bank reconciliation explains the differences between ____________. A. cash receipts and cash…

A: Introduction: BRS: BRS stands for Bank Reconciliation statement. To reconcile the difference between…

Q: Which type of source document is best for providing evidence of disbursements of funds from petty…

A: Source documents are those documents which have the physical basis and upon which the transactions…

Q: Which of the following items is subtracted from the “cash balance from bank statement” on a bank…

A: Deposits in transit: Deposit in transit means the money received by a company and recorded in the…

Q: Which of the following items appearing on a bank reconciliation require a journal entry to bring the…

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

Q: Preparing a bank reconciliation on a monthly basis is an example of: A. establishing responsibility…

A: A bank reconciliation is the process by which the balances are matched as between the bank statement…

Q: On receipt of bank statements, a company has identified that bank has collected interest OMR 100,…

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

Q: What items/information are required to prepare a bank reconciliation? What steps, in order of…

A: Introduction Bank Reconciliation :- The process of reconciling the balances in an entity's…

Q: After preparing a bank reconciliation, the service fee charged by the bank would be recorded with a:…

A: Service fees expense is charged each month for management of bank account.

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: Cash control systems are the methods and procedures used to ensure --   a. That current obligations…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

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: 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: why is petty cash fund deducted in the book balance of the entity when making bank reconciliation?

A: A petty cash fund is a fund where some money is kept separately to pay for minor expenses such as…

Q: Which cash reconciling item could potentially affect either the bank statement or the general…

A: The bank reconciliation statement is prepared to match the balance of cash book and pass book.

Q: Indicate whether each transaction would require an adjustment to the bank balance or the book…

A: The balance per bank and books can differ due to various reasons. Omission of a record in books or…

Q: two (2) adjustments required to reconcile the Cash Book with the Bank Statemen

A: The bank reconciliation statement shows the reconciliation of the bank statement to the cash account…

Q: Bank Reconciliation Identify each of the following reconciling items as: an addition to the cash…

A: Bank Reconciliation:   In bookkeeping, a bank reconciliation is the process by which the bank…

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: The accounting clerk pays all obligations by pre numbered checks. What are the strengths and…

A: It was must obligatory  in the internal control over by the cash payments which are taken care by…

Q: Explain briefly how proof cash affect the balance in book and bank balances?

A: Bank reconciliation is the statement showing the balances of cash as per company’s books and as per…

Q: Question 11 On a bank reconciliation, the amount of NSF checks not yet recorded by the company…

A: Sometimes, due to various reasons, the balance as per the cash book doesn't match the balance as per…

Q: In a bank reconciliation, an EFT cash payment isa. deducted from the bank balance.b. added to the…

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

Q: When journal entries for items in the Ledger Balance of Cash section of the bank reconciliation are…

A: Bank Reconciliation statement is prepared to match the cash balances of cash book and pass book.

Q: In preparing a bank reconciliation, the amount of outstanding checks is added to the balance per…

A: A bank reconciliation statement is prepared to reconcile the balance as per bank books and as per…

Q: Accompanying the bank statement was a debit memorandum for an NSF check received from a customer.…

A: Bank reconciliation :          Often, it is seen that cash balance as per books of accounts does not…

Q: State and explain the reasons for the difference between cash book and bank statement

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

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.