Which Of The Following Would Be Subtracted From The Balance Per Books On A Bank Reconciliation? (Question)

On a bank reconciliation, the bank service costs should be deducted from the balance according to the records.

Which of the following would be added from the balance per books on a bank reconciliation?

An adjustment to the balance per books is made during a bank reconciliation by adding the amount of any outstanding checks to the total amount of the balance per books.

For which of the following errors should the appropriate amount be added to the balance per books on a bank reconciliation?

A. A check in the amount of $63 that was recorded by the corporation as $36 B. A check for $75, which the corporation has recorded as $57.

Which of the following items must be added to the cash balance per ledger?

Whenever a bank collects a note receivable, the bank must add it to the cash balance on the ledger. The note receivable must be in favor of the depositor and must be collected by the bank in order for the depositor’s account to get credit.

What causes the balance on the bank statement to differ from the cash balance in the general ledger?

A disparity between the amount on the bank statement and the balance on the books can be caused by a variety of factors, some of which are as follows: Bank service fees and check printing fees are additional costs. Errors in the company’s accounting records. Charges and deposits that show on a bank statement but have not yet been entered in the company’s records are known as electronic charges and deposits.

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What types of items cause the balance per ledger and the balance per bank statement to disagree?

A mismatch between the balance on the bank statement and the balance on the books can occur for a variety of causes, some of which are as follows: In addition, there are fees for bank service and check printing. Bookkeeping inaccuracies on behalf of the corporation There are charges and deposits that show on a company’s banking statements, but have not yet been entered in the company’s accounting records.

  • Outstanding checks
  • deposits in transit
  • bank service costs
  • check printing charges
  • errors in the books
  • errors by the bank
  • outstanding checks
  • deposits in transit There are no electronic charges on the bank statement since they have not been registered in the books.

What is the adjusted balance per bank?

To compute the adjusted bank balance amount in Reconcile Bank, start with the amount entered into the Statement Ending Balance field in Reconcile Bank and multiply it by the number of deposits in transit, deduct or add all adjustments, and subtract all outstanding checks.

What’s the difference between book balance and account balance?

The cash balance of a firm as recorded in its accounting records is referred to as the book balance. Transactions that have not yet settled or cleared via the bank account might be included in the book balance. An accounting period ends with the reconciliation of a company’s book balance with its bank balance, which is accomplished through a monthly bank statement.

Which item’s should be subtracted from the balance per books?

Explanation: On a bank reconciliation, bank service costs should be deducted from the balance in accordance with the records.

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Which amount should be reported as cash on the balance sheet?

On the balance sheet, the term “cash and cash equivalents” refers to the line item that shows the value of a company’s assets that are in the form of cash or that may be changed quickly into cash. In addition to bank accounts, marketable securities, which are debt instruments with maturities of less than 90 days, are considered cash equivalents.

Which of the following is not included in cash and cash equivalents on a company’s balance sheet?

Cash and equivalents do not include investments in liquid assets, such as stocks, bonds, and derivatives, which are not included in liquid securities. Despite the fact that such assets may be quickly converted into cash (usually with a three-day settlement time), they are nevertheless prohibited from being used as collateral. On the balance sheet, the assets are classified as investments, which means they are worth money.

Which of the following items must be added to the cash balance per company books when preparing a bank reconciliation?

When doing a bank reconciliation, the following things are added to the total balance for each bank: Deposits in transit are cash and checks that have been received by a corporation as of the date of the bank statement, but have not been deposited in time for them to display on the bank statement as deposits in transit.

Which of the following is added to the cash balance per bank?

In a bank reconciliation, deposits in transit would be added to the amount based on the most recent bank statement.

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Which of the following usually considered cash?

Coins, currency, monies on deposit with a bank, cheques, and money orders are all examples of cash in the traditional sense. Postdated checks, certificates of deposit, IOUs, stamps, and travel advances are all examples of items that are not classed as currency.

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