Answer items 5-8. 5. If the balance shown in the bank statement is less than thecorrect cash balance and neither the entity nor the bankhas made any errors, there must bea. Deposits credited by the bank but not yet recorded bythe depositorb. Outstanding checksc. Deposits in transitd. Bank charges not yet recorded by the depositor6. If the cash balance shown in the accounting record is lessthan the correct cash balance and neither the entity northe bank has made any errors, there must bea. Deposits credited by the bank but not yet recorded bythe depositor HEAD TO TOTb. Deposits in transitc. Outstanding checksd. Bank charges not yet recorded by the depositor7. Bank reconciliations are normally prepared on a monthlybasis to identify adjustments needed in the depositor'srecords and to identify bank errors. Adjustments on thepart of the depositor should be recorded forribojstvoa. Bank errors, outstanding checks and deposits in transit.b. All items except bank errors, outstanding checks anddeposits in transit. matola Anod og sigrast lapsc. Book errors, bank errors, deposits in transit andoutstanding checks.d. Outstanding checks and deposits in transit.8. Bank statements provide information about all of thefollowing, excepta. Checks cleared during the periodb. NSF checksc. Bank charges for the periodd. Errors made by the depositor

Hi student Since there are multiple questions, we will answer only first question. Ideally cash…

5. If the balance shown in the bank statement is less than the correct cash balance and neither the entity nor the bank has made any errors, there must be a. Deposits credited by the bank but not yet recorded by the depositor b. Outstanding checks c. Deposits in transit d. Bank charges not yet recorded by the depositor

5. If the balance shown in the bank statement is less than the correct cash balance and neither the entity nor the bank has made any errors, there must be a. Deposits credited by the bank but not yet recorded by the depositor b. Outstanding checks c. Deposits in transit d. Bank charges not yet recorded by the depositor

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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