Which of the following items appearing on a bank reconciliation require a journal entry to bring the Cash account up-to-date? O An error made by the bank in recording a deposit O Outstanding check O Check from customers returned as NSF O Deposit in transit

Q: The adjusting entries for a bank reconciliation Select the correct response: May include a debit to…

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

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

A: Bank Reconciliations: There are many errors that can be made in the bookkeeping – for example, it is…

Q: Which of the following internal controls is a common detective control over cash and cash…

A: Internal control  is implemented, to maintain effectiveness, efficiency, ,follow the policies,…

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: An NSF check returned by the bank should be entered in the depositor's accounting  records by a…

A: There are three golden rules in accounting for recording the transaction : Debit what comes in ,…

Q: Which of the following has incorrect treatment for the bank and book reconciling items assuming…

A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook 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: a. Prepare a bank reconciliation for Adam Company at April 30. b. Prepare the necessary journal…

A: a) Particulars Amount Amount Particulars Amount Amount Cash Balance according to the statement…

Q: Which procedure is an auditor most likely to use to detect a check outstanding at year-end that was…

A: answer are as follows

Q: Debate the logic used in the following statement: “The person responsible for handling cash receipts…

A: It may be true that the person responsible for handling cash receipts is more familiar with the…

Q: Which one of these principles is considered for cash disbursement control: Select one: a. Rarely…

A: Cash disbursement control is a technique usually used for cash management that helps organizations…

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

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

Q: Would charges for some other company's safe deposit box that were posted to your account be added to…

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

Q: Which of the following items on a bank reconciliation would require an adjusting journal entry on…

A: An error by the bank: Adjusted in the bank statement. Outstanding cheques: Adjusted in the bank…

Q: The journal entries for a bank reconciliation . are taken from the "balance per bank" section only.…

A: A bank reconciliation is a statement that is prepared to match the bank balance as per the books of…

Q: Which of the following is not an essential cash receipt internal control? Multiple Choice   Have…

A: Internal control means the ways of doing the business and kept a control over the activities of…

Q: Notification by the bank that a deposited customer check was returned NSF requires that the company…

A: Bank A/c    Dr     To Account receivables A/c 1. here bank balance will increase when cheque is…

Q: A bank reconciliation statement is a statements that is Drawn up by the business to verify the cash…

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

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 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: For each of the items indicate whether its amount affects the bank or book side of a bank…

A: A bank reconciliation statement aligns an organization's bank account with its financial documents…

Q: Which of the following is not an essential cash receipt internal control? Multiple Choice   Have…

A: Internal controls are the controls implemented to ensure the efficiency in the operations of an…

Q: Which of the following item, have been recorded on the company's books but not yet by the bank…

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

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: sing the code letters below, indicate how each of the items listed would be handled in preparing a…

A: Bank reconciliation statement is prepared by the management at a particular time period. It helps to…

Q: When auditors perform the bank reconciliation test, what would be the appropriate audit procedure…

A: Auditing procedures of Bank Reconciliation Bank reconciliation is one of the important part in the…

Q: What is the adjusting entry for Bank Reconciliation: Debit Memo- Cost of Checkbook

A: A debit memo issued to customer for cost of checkbook will reduce the account balance of the…

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: A bank reconciliation should be prepared Oa. to explain any difference between the company's balance…

A: Bank Reconciliation: A statement known as Bank reconciliation statement is prepared periodically for…

Q: Identify whether each of the following items would be (a) added to the book balance, (b) deducted…

A: Deposits in transit and outstanding checks are adjusted in the bank balance. Bank service charge,…

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

A: Service charges: Banks debited the charges for maintain of account with bank and for the transaction…

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: After preparing a bank reconciliation, journal entries are necessary to record Bank service…

A: Bank reconciliation statement is used to determine the differences between the bank statement…

Q: Bank Correction of an error from posting another customer’s check (disbursement) to the company’s…

A: A customer's account balance is increased by a credit memo items and reduced by a debit memo.

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: 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: a. Prepare a bank reconciliation at June 30. b. Prepare the necessary journal entries to bring the…

A: Journal entries shows the recording of transactions during an accounting year as every transaction…

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 one of these principles is considered for cash disbursement control Select one: O a. Print…

A: Internal control is an important part of every organization. It helps in maintaining the efficiency…

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: 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: 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: 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: 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: a. What is the adjusted balance on the bank reconciliation? $ Feedback b. Journalize any necessary…

A: Bank reconciliation statement: Bank reconciliation statement can be defined as the statement…

Q: In preparing a monthly bank reconciliation, which of the following would be added to the balance per…

A: Ideally, cash balance as per cash book and bank balance as per bank statement should reconcile or…

Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.