When you identify outstanding cheques in performing a bank reconciliation, you must: Multiple Choice deduct the...
When you identify outstanding cheques in performing a bank reconciliation, you must:
Multiple Choice
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deduct the amount of the outstanding cheques from the balance per books.
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deduct the amount of the outstanding cheques from the balance per bank.
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add the amount of the outstanding cheques to the balance per bank.
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add the amount of the outstanding cheques to the balance per books.
Homework Answers
| Option A is the answer | ||
|
Outstanding checks are those checks which are already issued by the company but not yet cashed in the bank. They should be deducted from book balance when reconciling |
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When you identify outstanding cheques in performing a bank
reconciliation, you must:
Multiple Choice
deduct the...
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1) What is the amount of the outstanding
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2) Prepare the bank reconciliation at March 31.
(List items that increase balance as per bank &
books first.)
3) Prepare any journal entries required from the
reconciliation.
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I'm doing a correspondence course on accounting and this is a
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through how you would solve this I would much appreciate
it
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