Question 11: Which statement about making deposits is TRUE? Answer: A. B. C. D. Funds received through sales are held in Savings, and you must move them to Checking Funds received through sales are held in Undeposited Funds, and you must move them to your bank account Funds received through sales are held in Accounts Payable, and you must move them to your bank account. Funds received through sales are held in Accounts Receivable, and you must move them to your bank account

Are 1 year certificates of deposit recorded on bank reconciliation?

A prenumbered document that tells the bank to pay the designated party a specific amount is a A. check B. deposit ticket C. routing number D. remittance advice

Petty Cash Fund Question, When it comes to making payments from the petty cash fund, why isn't there an accounting/journal entry for it? Please Explain.

Items on Company's Bank Statement The following items may appear on a bank statement: 1.  Bank correction of an error from posting another customer's check (disbursement) to the company's account 2.  EFT deposit 3.  Loan proceeds 4.  NSF check 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's account: Item Appears on the Bank Statementas a Debit or Credit Memo Increases or Decreases theBalance of the Company's Bank Account 1.  Bank correction of an error from posting another customer's check (disbursement) to the company's account     2.  EFT deposit     3.  Loan proceeds     4.  NSF check

6 When preparing a bank deposit which of the following is a best practice?   Select one:   a. Deposit all customer payments one at a time using the Bank Deposit form   b. Group all customer payments with the same payment method together in one deposit   c. Leave payments in the undeposited funds account   d. Group customer payments with the payment method of checks and credit card payments in one deposit and group all the cash payment methods in a separate deposit

Hello, How do I solve this? Thanks