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How can you avoid overdrafts and overdraft fees? What are the types of accounts in a bank?
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- What should be done if differences are found between the bank statement and the book account?Which of the following does not explain the differences between the bank statement balance and the customers cash balance? a. Deposit in transit b. Canceled checks c. An NSF check d. Errors e. Interest incomeWhich of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transit
- Distinguish between illiquidity and insolvency as it affects a bank and discuss the reasons why banks are vulnerable to these problems.What is the bank reconciliation? why is it important for companies to prepare bank reconciliation periodically?What is your preparation in doing bank reconciliation? Can you be able to reconcile bank to book without statement?