Asked by Ahmed Dabour on May 14, 2024
Verified
Using the code letters below indicate how each of the items listed would be handled in preparing a bank reconciliation. Enter the appropriate code letter in the space to the left of each item.
Code
A Add to cash balance per books
B Deduct from cash balance per books
C Add to cash balance per bank
D Deduct from cash balance per bank
E Does not affect the bank reconciliation
Bank Reconciliation
The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they are in agreement.
Cash Balance
The amount of cash that a company, individual, or account has available at any given point in time.
- Identify the components that affect the cash balance per books and per bank.
Verified Answer
DP
Learning Objectives
- Identify the components that affect the cash balance per books and per bank.
Related questions
The Following Information Was Used to Prepare the March 2016 ...
The Difference Between the Cash in Bank Balance Shown on ...
Compute Whiz Company's Adjusted Cash Balance Per Books Based on ...
On the April 30 Bank Reconciliation, a Deposit Made by ...
In Preparing a Bank Reconciliation, Outstanding Cheques Are ...