Which of the following adjusts the company’s balance of cash in a bank reconciliation? a. Interest earned. b. Checks outstanding. c. Deposits outstanding. d. An error by the bank.

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 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: The explanation of the differences between the cash account balance according to the company’s book…

A: The question is multiple choice question. Required  Choose the Correct Option.

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 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: 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: 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: 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: From page 4-4 of the VLN, in a bank reconciliation how are outstanding deposits treated? A. Add to…

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

Q: Prepare a Bank Reconciliation Statement using: a. Adjusted Balance Method b. Book to Bank Method…

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

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: 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: 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: 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: When the question states that the balance in the cash at bank account and the bank statement did not…

A: A bank reconciliation statement, as the name indicates, reconciles the cash and bank balance of the…

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: 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: 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: Which of the following statement is prepared to identify the discrepancies between the cash balance…

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

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: 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: 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: a.explain with figures why your company's cash book balance will not agree with the bank statement…

A: Cash book is the book that will be prepared and maintained by the management of the company. All the…

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: 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: Which of the following items would normally be EXCLUDED from the amount to be reported as cash on a…

A: Statement of financial position is the one on which the company's assets and liabilities are…

Q: Why does the bank treat an account balance as a Credit when there is money in the account, while in…

A: Every business has the bank account and business as well as the bank maintains its books of accounts…

Q: Identify each of the following reconciling items as: an addition to the cash balance according to…

A:

Q: Which of the following items must be added to the cash balance per ledger in preparing a bank…

A: The statement prepared to find out the discrepancies if any, in the balances of the cash as per book…

Q: From page 4-4 of the VLN, in a bank reconciliation how is a NSF check treated? A. Add to the company…

A: Bank Reconciliation: It is a statement where the balance as per the cash book gets reconciled with…

Q: A journal entry would need to be made for which of the following adjustments on a…

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

Q: From page 4-4 of the VLN, in a bank reconciliation how are outstanding deposits treated? A. Add to…

A: Outstanding deposits is an item that has been recorded in the company’s cash book but has not br…

Q: In a bank reconciliation, an outstanding check isa. deducted from the book balance.b. deducted from…

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

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: 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: The following reconciling items are applicable to the bank reconciliation for Forde Co.Indicate how…

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

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: 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: What item on the bank statement that may differ from the company's financial records.      NSF…

A: The bank  reconciliation statement is prepared to match the balance of Cash in bank statement and…

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…

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.