Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
A written order for a bank or other financial
institution to pay a stated dollar amount
to a specified business or person is called a
a. check.
b. deposit slip.
c. notes receivable.
d. receipt.
e. debit memorandum
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- Which of the following items must be deducted to the balance per ledger in preparing a bank reconciliation, which ends with adjusted cash balance? Interest on deposits Collections from customers Service charges Erroneous bank debitarrow_forwardWhat is the adjusting entry of Bank Reconciliation : Credit Memo- Proceed Bank Loanarrow_forwardQ- 4211 Which journal entry recognizes that an NSF check had been deposited by a company and returned by their bank? O Debit Cash and credit Accounts Receivable Debit Accounts Receivable and credit Cash O Debit Accounts Receivable and credit Accounts Payable O Debit Bank Service Charge and credit Casharrow_forward
- Items on company bank statement: 1. Bank correction of an error from posting another customers check(disbursement) to the company account 2. EFT deposit 3. Loan proceeds 4. NSF. Using the following format indicate whether each item would appear as a debit or credit memo on the bank statement and whether the item would increase or decrease the balance of the company account.arrow_forwardQuestion: 1.What is the correct source documents for bank charges from business bank account. option: a) invoice received by the business X. b) invoice issued by business X. c) Receipts received by business X. d) Receipts issued by business X. e) Bank Debit advice. f) Bank credit advice. g) internal memo. h) cash sales slip. i) Cheque butt. j) credit note issued by business X. reqiured: please answer this question by choosing the correct source documents.arrow_forwardAfter preparing a bank reconciliation, journal entries are necessary to record Bank service charges Deposits in transit Outstanding checks Both B and C are correct A, B, and C are correctarrow_forward
- prepare a bank reconciliation.arrow_forwardAn adjusting entry is required for: Select one© a. Deposit în transit.O b. Outstanding checksO c. Bank errorsO d. Collection of a note by the bankarrow_forwardmethod of preparing bank reconciliation wherein the bank balance is adjusted to agree with the book balance a. bank to book method b. adjusted method c. bank to bank methodarrow_forward
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