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Bank Error in bank reconciliation
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If the bank make a mistake of recording a deposit of 87 dollars as 78 dollars, this error will be shown in the bank reconciliation as : Ans: deduction of 9 dollars to the bank balance I think this should be the correct ans, isn't it? Cos the ans in my book was addition of 9 dollars to the bank...
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What does this mean? Given: the 12/31/08 bank statement shows a beg. Balance of 38,783, receipts of 229,832, disbursements of 226,625 and an ending balance of 41,990/ So when I prepare for the bank rec. I use the ending balance of 41,990 right? Also, when I'm not given a cash balance, how do...
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Is the' balance as per book' in the bank statement section the same as adjusted bank balance? They should be the same, right? The only difference is that maybe the balance in the bank statement is not the same as the balance in the cash book. Thx for clarifying! :)
Bank reconciliation
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Journal entries based on the bank reconciliation are required in the depositor's accounts for a. book errors b. outstanding checks c. bank errors d. deposits in transit Am I wrong or right?
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I need help with a homework problem... 1. For each of the following items, indicate whether its amount (I) affects the bank or book side of A bank reconciliation and (ii) represents an addition or a subtraction in a bank reconciliation: a. Outstanding checks b. Debit memos c. NSF checks d.... View more questions Search
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