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Reconcile this bank statement.Ending Balance 159.75Outstanding Deposits 175.46 Outstanding Checks 231.69?
To reconcile the bank statement, start with the ending balance of $159.75. Subtract the outstanding checks of $231.69, resulting in an adjusted balance of -$71.94. Next, add the outstanding deposits of $175.46, leading to an adjusted balance of $103.52. The reconciled balance indicates that the account is overdrawn by $71.94 before accounting for the outstanding deposits.
Which account balance will change between the adjusted trial balance and the post closing trial balance?
The adjusted trial balance includes depreciation and other adjustments. This is the account balance that changes between the adjusted trial balance and the post closing trial balance.
What is journal entry of outstanding rent?
outstanding rent account dabit to Mr ashwin
The relationship between the amounts on the adjusted trial balance for an account and its ledger?
The adjusted trial balance reflects the balance of each account on the ledger. If there is a $1000 debit to Cash and a $200 credit to Cash in the same accounting period, the balance on the ledger will be $800 Cash. This $800 Cash balance will be reflected on the adjusted trial balance. In sum, the adjusted trial balance reflects the net of an account each accounting period.
What is an outstanding deposit?
an outstanding deposit means cash received by the company and recored in their general ledger, but bank has not yet credited the bank account
Reconcile this bank statement.Ending Balance 159.75Outstanding Deposits 175.46 Outstanding Checks 231.69?
To reconcile the bank statement, start with the ending balance of $159.75. Subtract the outstanding checks of $231.69, resulting in an adjusted balance of -$71.94. Next, add the outstanding deposits of $175.46, leading to an adjusted balance of $103.52. The reconciled balance indicates that the account is overdrawn by $71.94 before accounting for the outstanding deposits.
Is outstanding salary nominal account?
no,it's personal account.
Why is outstanding expense is credited in outstanding expense account?
Because it is a liability for business
Where put entry outstanding expenses in profit and loss account?
Outstanding expenses are put on the credit side in a loss and profit account. Outstanding expenses refer toÊthe amounts of money that are due for things like rent that are not yet paid.
Can a successor trustee close a trust checking account when there are outstanding checks that havent been cashed?
No. No one can close a bank account when there are outstanding checks that must be paid to the bearer.
Which account balance will change between the adjusted trial balance and the post closing trial balance?
The adjusted trial balance includes depreciation and other adjustments. This is the account balance that changes between the adjusted trial balance and the post closing trial balance.
What is journal entry of outstanding rent?
outstanding rent account dabit to Mr ashwin
What statement is correct has outstanding balance or have outstanding balance?
Either verb form could be correct in an appropriate context. Have is used for most tenses, but "has" is used for the third person singular. If my account "has an outstanding balance" then I "have an outstanding balance."
The relationship between the amounts on the adjusted trial balance for an account and its ledger?
The adjusted trial balance reflects the balance of each account on the ledger. If there is a $1000 debit to Cash and a $200 credit to Cash in the same accounting period, the balance on the ledger will be $800 Cash. This $800 Cash balance will be reflected on the adjusted trial balance. In sum, the adjusted trial balance reflects the net of an account each accounting period.
What is an outstanding deposit?
an outstanding deposit means cash received by the company and recored in their general ledger, but bank has not yet credited the bank account
If you have an ending balance on the bank statement of 569.72 outstanding deposits of 25.50 and no outstanding checks what balance should show in your checkbook?
You have 595.22 in your account.
What is journal entry of outstanding income?
Outstanding income a/c CR to Customer a/c Dr
