Which one of the following is not considered as cash? a. None of these b. Credit card. c. Coins and currency notes. d. Bank deposits.

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 one of the following is not considered as cash? a. Credit card. b. Debit Card c. Bank…

A: Bank deposits are those which are deposited with the bank.

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 following items will result in a difference between the balances in the bank statement and the…

A: Introduction: Bank reconciliation statement: Its a statement prepared by the customer of the bank…

Q: 1. As contemplated in accounting, cash includes    a. Money only b. Money and any negotiable…

A: Solution:- Introduction:- As per contemplated in accounting, cash includes as follows:- checks bank…

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: True or false Check number indicates the details of the check paid by the bank. The recipient of the…

A: Check numbers are for your reference so you can keep track of transactions. The bank doesn't rely on…

Q: Which of the following items should not be included in the Cash? O A. Petty cash and change funds…

A: The balance sheet represents the financial position of the business with assets and liabilities on a…

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: QUESTION 16 Which of the following items found on a bank reconciliation does NOT require an…

A: Dear student,  Since you have specified Question #16 to be answered, I am posting the answer for the…

Q: Which one of the following is not considered as cash? a. Credit card. b. Debit Card c. Bank…

A: Debit card is used to make online payment.

Q: ebit side of teh bank column of cash book indicates   Question 3 options:   total amount overdraft…

A: Cash at bank refers to any Group cash held at or deposited with any bank or financial institution…

Q: Which of the following is issued by a company to the responsible staff in order to establish a petty…

A: The petty cash fund is established for daily basis small cash expenses of the business.

Q: Discuss how Unpresented Cheque and Uncredited Cheque contributes to the disagreement between cash…

A: A bank reconciliation statement is prepared by the company to match the balance as per the bank…

Q: The following statements relate to cash. Which statement is false? O Legally restricted compensating…

A: 1. Restricted cash balance will always be excluded from cash . Therefore it is true statement.   3.…

Q: 1. Advances for travel expenses are reported as: a. Supplies b. Cash, since they are…

A: Cash and Cash Equivalents - Cash and Cash equivalents are the items which can be converted into cash…

Q: 7. Which of the following should not be considered cash for financial reporting purposes?    a.…

A: Cash balance for financial reporting purpose means those instruments or assets, which are either in…

Q: 7-Which one of the following is not considered as cash? a. Bank deposits. b. None of these c. Credit…

A: Cash or Cash Equivalents are those assets that are highly liquid which can be used immediately to…

Q: 7. Which statement is true?    a. Bank service charge will cause the cash balance per ledger to be…

A: As the question has more than 3 sub-parts, the first 3 subparts are answered as per guidelines. If…

Q: Which one of the following is considered as cash? a. Post Dated Cheques. b. Certified Cheques. c.…

A: Cash and cash equivalent is the part of current assets which are reported on the balance sheet of a…

Q: additional loan from bank should it be included in cash at hand/cash on bank

A: The company maintain certain amount of the cash for working capital management and smooth operations…

Q: Which one of the following is considered as cash? a. Credit card. b. None of these c. Certified…

A: Cash of the business means cash in hand and all other short term instruments or objects that can be…

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: . Which of the following is usually considered cash?    a. Certificates of deposit b. Checking…

A: Cash means cash on hand and demand deposits.

Q: 1) When all of the cash for an account previously written off under the direct write-off method is…

A: The MCQ's has Covered the concept of Accounts Receivable , Notes Payable , and Merchandise Inventory…

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: Which of the following would NOT be classified as cash?   a. Company's post-dated checks b.…

A: Cash is the current asset which is in the form of money or it is something equivalent to money. It…

Q: The allowance method for uncollectible accounts a. Is required by Generally Accepted Accounting…

A:

Q: QUESTION 16 Which of the following items found on a bank reconciliation does NOT require an…

A: Deposit in transit since the amount is already recorded in the company accounts no adjusting entry…

Q: Which of the following statement is incorrect regarding Cash and Cash Equivalents?   a. Postage…

A: Cash and Cash Equivalent - It refers to the various value of company's assets which are can be…

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: bank statement is prepared   Question 1 options:   to know the payment made through cheques   to…

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

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: 43-Which one of the following is not considered as cash? a. Credit card. b. Coins and currency…

A: Coins and currency notes, debit cards and bank deposits from all these cash can be withdrawn and…

Q: All of the following may be included in cash except   a. currency b. checking account balance c.…

A: Cash is defined as the checks, bills, bank balances and coins and it is also used for acquiring the…

Q: Which of the following statements is false? a. Legally restricted bank deposits held as compensating…

A: Cash and Cash Equivalents Here is related to the Cash and its Equivalents which are relation with…

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: business cash consist of many things. Identify which one of the following will be considered as…

A: Credit card is considered as a cash Equivalent....

Q: company with an efficient way to handle small payments of cash

A: Option b is wrong because bank accounts usually handle both large and small payments. Option c is…

Q: 7) Adjusting entries are made: A) For the differences between the bank statement cash balance and…

A: Adjusting entries are made for the differences between the bank statement cash balance and adjusted…

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: Identify transaction NOT belonging to Cash Equivalents O a. Bank Balance O b. Bank Overdraft O c.…

A: Cash equivalents are the items that are equivalent to cash means either thise are cash ready or…

Q: Which of the following is a book reconciling item? a.notes receivable collected by the bank b.cash…

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