Which among the following is not a liquid asset   Bills receivable Cash deposited in a bank Debtors Stock

Q: The following are reconciling items in an enterprise's bank reconciliation statement. I. Deposit in…

A: Solution: The following adjustments would be shown as deduction from the cash balance per books :…

Q: Money supply is O a. Inflation O b. Total amount of money in circulation O c. Total amount of money…

A: Solution:- Money acts as a medium of exchange for buying and selling goods these days.

Q: 47-Which among the following is not a liquid asset Cash deposited in a bank Stock Bills receivable…

A: The assets are categorized as fixed assets, current assets and liquid assets.

Q: 48   Which of the following transactions is not classified as a source or use of cash in the…

A: The statement of cash flows records all the sources and use of the cash in the business during a…

Q: 4. If a deposit outflow of $50 million occurs, which ance sheet would a bank rather have initially,…

A: The $ 50 million deposit outflow means that the reserves fall by $ 50 Million to $ 25 million. Since…

Q: 22. A cheque issued by the company but not presented to bank is known as ______. a. Deposit in…

A: A cheque issued by the company but not presented to bank is known as Outstanding cheque... d.…

Q: Find the current balance for the account. Balance from Bank Statement Outstanding Checks Deposits…

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

Q: Which of the following is/are reasons for differences in cash book and bank statements? a. All the…

A: Introduction: Bank Reconciliation statement: To reconcile the difference between bank book and cash…

Q: Match definitions with vocabulary terms) Use theseterms to complete the statements that follow. You…

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

Q: Which of the following is not a use of cash? a_____ Purchasing supplies for cash b_____ Repayment…

A: Inventory: Inventory refers to goods or materials of the company which can be readily available to…

Q: The following bank reconciliation has been prepared. Balance per bank statement (overdrawn) 73,680…

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

Q: 11.6 Pepper Co has received cash for a debt that was previously written off. Which of the following…

A: The entry can be corrected reversing the original entry for write-off.

Q: Assume that Blue star LLC issued OMR 300 cheque to establish petty cash fund. What journal entry can…

A: Journal Entry - It is a record of every business transaction whether it economic or non economic, in…

Q: 5. if bank deposits held at other depository institutions, its known as primary reserve…

A: The banks generally kept reserves in primary and secondary forms, the reserves that are kept for the…

Q: Volatile liabilities in the Bank’s performance report include all of the following EXCEPT: a.…

A: Volatile liabilities refer to those liabilities which are unstable in nature or which can be fade…

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: 27 - Which of the following accounts is not included in the default values? A) Checks Received B)…

A: Default account are commonly used/prevalent account heads. These generally include cash, bank,…

Q: Which of the following statements is/are not false? Statement 1:  Bank Drafts are commitments by…

A: c. Statement 1 and 3 The above statements are correct/true.

Q: Savings accounts are usually classified as cash on the balance sheet.

A: Cash and Bank account Cash account is an account in balance sheet as a current asset and it shows…

Q: 12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 BANK CURRENCY DTH 62.000 121 02 SHARES OF FX…

A: The FX Receivables experience fluctuations in value as the currency changes as per the shift in the…

Q: Question 10 All of the following statenments are True about Bank overdrafts: O A. O B. If no…

A: Bank overdraft is like a loan  or credit where the bank provides its customer credit to allow a…

Q: Sub Classification Statement (CA, NCA, CL, NCL, C/s, OPEX) Financial Line items Trading Securities…

A: SFP stands for the statement of financial statement that shows the balance sheet of the company. It…

Q: 16 v in the amount of $ 1600 and will need to loan out reserves The Senators Bank is over-reserved…

A: Given, Demand deposits = 380,000 Target reserve ratio (TRR) = 10% Target reserves = Demand deposits…

Q: Required Identify whlch of the followIng Items are added to or subtracted from the unadjusted bank…

A: Explanation Bank Service charge It already appears on the bank Statement Outstanding…

Q: 1. SaKanya Company provided the following information on December 31, 2020: Cash in Bank (net of…

A: Current liabilities are those liabilities which are being settled or paid in short period of time,…

Q: 12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 BANK CURRENCY DTH 62.000 121 02 CERTIFICATES…

A: The FX Receivables experience fluctuations in value as the currency changes as per the shift in the…

Q: .2.1 Calculate the correct bank balance at 30 June 2019. (Hint – Start by calculating the bank…

A: 2.1: Calculation of correct bank balance on 30 June 2019:

Q: Bank overdraft      a. Is a debit balance in a cash in bank account   b. Is offset against demand…

A: Banks provide different facilities to customers based on the deposits in the banks.

Q: SA Company prepared the Nove Balance per bank statemer Add: Deposit in transit Total Less:…

A: Bank reconciliation statement is a statement which shows the difference between bank statement and…

Q: Which one of the following is a current asset? a. Outstanding expenses b. Prepaid expenses c. Bills…

A: Current asset is the amount that can be converted into cash within 12 months period.

Q: Which of the following is not reconciliation item? a. Deposit in transit b. Bank charges c. Dividend…

A: Introduction: Bank Reconciliations: To reconcile the difference between bank book and cash book…

Q: 10. The following are bank reconciling items, except:      a. Deposit in transit   b. Bank errors…

A: a. Deposit in transit - These are not recognised in bank reconciliation statement…

Q: Bank drafts are considered cash.        TRUE       FALSE

A: Introduction: Bank Drafts: Bank drafts are same like checks which was guaranteed by cash of…

Q: Which of the following is not one fo the examples of cash equivalent? a. a bank certificate of…

A: Cash and cash equivalent means those assets which are highly liquid and convertible into cash…

Q: 9. is an example of the first line defense against customer demand on deposit O trading account…

A: Banks are financial institutes that deal in activities like lending, deposits, investments of funds…

Q: 1- The accrued interest and commission represent unpaid expenses on the bank. true

A: solution concept Accrued interest and commission Accrued interest means the amount of interest…

Q: 6. What is the transaction on the accounting equation to record $50 in bank service charges? Assets…

A: Total Assets = Total liabilities + Owners equity

Q: 17. Following are reconciling items in an enterprise’s bank reconciliation: I. Deposit in transit.…

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

Q: answer questions a and b. a. Fill in the blanks in the balance sheet below for the Last National…

A: Financial statements are a part of reporting and displaying the financial activities and position of…

Q: Which of the following is not considered cash for financial reporting purposes? a. Petty cash and…

A: according to the rule, because you have posted multiple questions, we will answer the first question…

Q: 6. Sandy Inc. had the following bank reconciliation at March 31, 2020: P37,200 10.300 P47,500 12 A00…

A: Bank reconciliation statement helps to match the balances of bank book and cash book at the end of…

Q: . Which form of bank reconciliations statement is prepared by most of the companies? a. Reconciles…

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

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.