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What are the types of errors you would notice while doing a Bank Reconciliation Statement?
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∙ 11y ago
NSF Cheques
Deposits in Transit
Outstanding Cheques
Bank Service Fees
Various types of Cheque Errors
Interest Payments
Wiki User
∙ 11y ago
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When doing the reconciliation of a bank account the beginning balance on the new month's bank statement should always match what?
ending balance of the previous month
Where is decrease in short-term investments placed in cash flow statement?
A short term investment isn't always placed in a cash flow statement. When you are looking at a problem for a cash flow statement, and the additional information section says something about selling a short term investment, then the cash received from the investment is placed in the operating activities section. But if you are just looking at the balance sheet, see a decrease in the short term investments account, but no additional information is given about STI's, then you don't place the decrease anywhere. It also depends on if you are doing an indirect cash flow statement or a direct cash flow statement.
What does reconciliation mean?
It could have any of these three meanings:The restoration of friendly relationsThe action of making one view or belief compatible with anotherThe action of making financial accounts consistentYou get cleansed from all of your sins. God forgives you for doing wrong and sinning. You go to get absolved from your sins. :) hope it helps
Explain why noncollectable accounts have both income statement and balance sheet implication for accounts?
If you can't collect a receivable, you have to write it off. Doing so means you credit the receivable on the balance sheet and debit the income statement with bad debt expense. This entry essentially reverses the initial entry which recognized the revenue and put the receivable on the balance sheet in the first place.
Common Size Statement advantage and disadvantages?
Advantages of Common Size statement: •1) It reveals Sources and Application of Funds in a nutshell which help in taking decision. •(2) If common size statements of 2 or more years are compared it indicate the changing proportion of various components of Assets, Liabilities, Cost, Net Sale & Profit. •(3) When Inter Firm Comparison is made with the help of Common size statement it helps in doing corporate evaluation and Ranking. Disadvantages of Common Size Statement •(1) No Established Standard Proportion: •Common Size Statements are regarded as useless as there is no established standard proportion of an asset to the total asset or an item of expense to the net sales. • •(2) Consistency Required:- •If Financial Statement of a Particular business organization are not prepared year after year on a consistent basis comparative study of common size statement will be misleading
At some stage in doing a checking account bank statement reconciliation you need to subtract all the following items expect?
unposted deposits
When doing the reconciliation of a bank account the beginning balance on the new month's bank statement should always match what?
ending balance of the previous month
What items do you subtract when doing a bank statement reconciliation?
Reconciling a checking account balance as shown on your statement to that shown in your check register, you should subtract any uncleared checks, as they cannot have been used to compute the balance.
What happens in the 5 stages of the sacrament of reconciliation?
The Sacrament of Reconciliation includes examination of conscience, admitting wrongdoing, asking for forgiveness, doing penance, absolution and resolving to sin no more. Reconciliation is both a group and individual sacrament.
Why there is a difference between cash account in the campony's book and bank statement balance in bank?
The cashbook (account) in the company's books reflects all cheques written to suppliers and all cheques received from customers. However, the bank statement balance shows only cheques that have cleared. So at any date there can be a difference between the cashbook and the bank statement, comprising of cheques issued and/or cheques received but yet to clear and be debited/credited to the bank balance. There may also be differences due to accounting errors or omissions. In doing a bank reconciliation these differences can be identified and corrected.
To notice a limp in a horse what does it have to be doing?
At least walking.
What did Henry notice the mule drivers doing?
retreating
Can a question statement be a thesis statement?
No you may not ask any questions in your thesis statement, because the thesis statement basically states your answer to whatever you are doing.
Why we doing dissolution?
to notice how much percentage of Drug is released!
Can you give a verbal notice for an eviction?
There's nothing preventing you from doing this IN ADDITION to giving notice in writing, but it almost certainly will not TAKE THE PLACE of notice in writing.
What is the traditional way doing penance?
Roman Catholic AnswerIf by penance you are referring to the Sacrament of Reconciliation, the traditional way of doing this is to confess your sins to a priest while you are kneeling behind a screen in a confessional.
What is the verb of statement?
The verb of a statement is the action word that describes what the subject is doing in a sentence. It is essential for conveying the action or state of being expressed in the statement.
