Write in your own words which type of bank account would you like to open and explain why .

Q: I completed a Bank Reconciliation for the Arrowhead company.  The next step is creating the…

A: Bank reconciliation is a statement which shows the difference between cash balance as per book and…

Q: prepare a Bank Reconciliation Statement.

A: Bank reconciliation statement is the statement which is prepared at the end of the period in order…

Q: received a check from the Asif and paid in to the bank journal entry

A: Cash and Bank are two different assets for the business. These assets will be debited in case of…

Q: This is the PRIMARY FUNCTION OF COMMERCIAL BANKS  TRUST FUNDS SAFE DEPOSIT BOXES EXTEND CREDIT…

A: 1.Trust Fund is an entity that holds property on behalf of someone 2.Safe Deposit Boxes means…

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: Cash in bank account balance Bank statement balance Bank debits Bank credits Peol dehit

A: Reconciliation Statements-:A Reconciliation Statement is a statement that commences with a firm's…

Q: Will journal entries be necessary based on the book or bank adjustments you discovered in the bank…

A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: Why is it important to choose checking and savings account that suits you best?

A: A checking account is that account which is for day to day spending. This is the account where the…

Q: Fill in the check register and then reconcile the bank account.

A: A check register is a statement of the amount of deposit and the amount of the withdrawals. The…

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: What is the use of a bank reconciliation statement

A: BRS refers to bank reconciliation statement. It is a statement prepared by various organisations or…

Q: You have been asked to write the Bank Reconciliation

A: Bank Reconciliation:- A bank reconciliation is that the method of matching the balances in an…

Q: nvestigate the procedures in your financial institution or a bank of your choice, in granting credit…

A: A financial institution exists to provide consumers, corporations, or both with a wide range of…

Q: Explain the three principal reasons organizations want to keep cash on hand or in bank accounts.

A: Introduction:- Cash on hand is the sum of money that your business has immediately available on the…

Q: Look at these two sentences about Undeposited Funds: By posting to Undeposited Funds, you can…

A: Undeposited Fund: It is an account created by the company for receiving payments and before…

Q: What is the bank reconciliation statement

A: The cash book is prepared to keep the record of cash balance.

Q: Identify the types of bank accounts normally maintained by a business and explain

A: Answer: Bank accounts are the accounts that are used to deposit cash of the bank so that it is used…

Q: Explain the purpose of performing bank reconciliation. b. State possible reasons why there is an out…

A: Bank reconciliation statement: It is the process performed by the firm to ensure the balance between…

Q: Prepare a service blueprint for each of these banking transactions: Make a savings deposit using a…

A: Preparation of blue print for the following banking transactions are as follows: a) Making a service…

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: describe the structure of a bank bill. In your explanation, clearly distinguish the roles of the…

A: Introduction: An invoice of barter is a criminal assumption that binds one party to pay another a…

Q: A person is called a customer of a bank when he/she

A: The bank institution is a financial institution helps to keep our money safe.

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: Can i get a step by step explanation on the book to bank method?

A: Book to bank method is a bank reconciliation method in which the reconciliation starts from the…

Q: Which account in the bank helps the customers to deposit and withdraw when they need it? a. Savings…

A: Introduction: Banks: Banks accepts deposits from customers and gives loans to who are needed. It…

Q: What is the primary asset of any bank? Select an answer: checking and savings accounts investments…

A: Primary Assets - For a Bank, assets are kind of financial instruments that banks is holding or where…

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: 1. It is a bank account wherein the depositor can draw checks. a. Drawing account b. Savings account…

A: The correct answer for the above mentioned question is given in the following steps for your…

Q: After posting the journal entries to the Cash T-account, the balance in the Čash T- account should…

A: Cash T-account: It is a ledger account that carries the opening balance of cash, records debits, and…

Q: To deposit money in your business's bank account you should use O A cheque book O A bank statement O…

A: The Question has covered the concept of Cheque book, deposit slip, withdrawal slip, bank statement.…

Q: Corinne needs to record a customer's payment. Which QuickBooks function would be most useful? Create…

A: Ans. Receive Payment

Q: Assign the letter to indicate whether the following items would be added from the company's books or…

A: The bank reconciliation statement is prepared to adjust the balance of cash book and pass book to…

Q: Using the following information and prepare a bank reconciliation.

A: Bank reconciliation refers to the method used by the company to match the bank statement as well as…

Q: What information does a bank need, and the information value?

A: A Bank is a financial body primarily dealing with accepting of money from people and advancing loans…

Q: Checking accounts are a common form of deposits for banks. Assume that Surety Storage has a checking…

A: Account: A record,thatdocuments or records the change in assets, liabilities, or equity for a…

Q: explain why it is important for a business to do a bank reconciliation monthly.

A:

Q: Distinguish among the following: (1) a general checkingaccount, (2) an imprest bank account, and (3)…

A: (1) A general checking account is the frequently used leading bank account of the companies, through…

Q: What is a bank statement and discuss the importance of a bank statement to a depositor.

A: solution bank statement                 Bank statement is a statement generated by the bank which…

Q: Section: A  In this section, briefly provide background/introduction of the focal organisation,…

A: NOTE:="Because you asked numerous questions, we'll answer the first one for you." Please provide the…

Q: Explain briefly how proof cash affect the balance in book and bank balances?

A: Bank reconciliation is the statement showing the balances of cash as per company’s books and as per…

Q: of bank account

A: Answer: Bank accounts are mainly opened to make easier payments and receipts worldwide. Types of…

Q: what happen to the account if the owner pay trade payable using own personal bank?

A:

Q: Prepare a bank reconciliation statement

A: Bank Reconciliation statement is prepared when there is difference between cash balance as per…

Q: ould be recorded using the Bank Deposit form?

A: Transaction types should be recorded using the Bank Deposit form are :  A. Cash received from loans.…