In a bank reconciliation, an EFT cash payment isa. deducted from the bank balance.b. added to the bank balance.c. added to the book balance.d. deducted from the book balance.

In preparing  a bank reconciliation,  what is the proper treatment of interest earned on the bank account?

When reporting cash on the balance sheet, companies: O A. combine cash and cash equivalents. B. show each bank account separately. C. combine cash with long - term investments. D. combine cash with accounts receivable.

A deposit in transit on last period's bank reconciliation is shown as a deposit on the bank statement this period. As a result, in preparing this period's reconciliation, the amount of this deposit should be: a. Added to the book balance of cash b. Deducted from the book balance of cash c. Added to the bank balance of cash d. Deducted from the bank balance of cash e. Not included as a reconciling item

When completing the bank reconciliation, Bank Service Charges would be: Subtracted from the Cash General Ledger Balance Subtracted from the Bank Statement Balance Added to the Cash General Ledger Balance Added to the Bank Statement Balance

Which of the following is an appropriate reconciling item to the balance per bank in a bank reconciliation? a. Bank service charge b. Chargeback for NSF check c. Deposit in transit d. Bank interest

1. Why it is necessary to prepare a bank reconciliation? 2. What are the causes that bs is differ from cb? 3. How does bank statement (bs) differ from cash book (cb)? Illustrate ur answer. 4. Differentiate outstanding checks from deposit in transit. 5. Enumerate the 7 steps .

If credit side of a bank account is greater than debit side, it indicates: A. Bank overdraft B. Cash at bank C. Bank balance D. Current asset

When preparing a bank reconciliation, adjustments are made to the bank side and not the ledger (book) side. True or False

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