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use the cash balance per ledger to be greater tl ual by charging an amount to the depositor's acce асс

use the cash balance per ledger to be greater tl ual by charging an amount to the depositor's acce асс

FINANCIAL ACCOUNTING
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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Which statement is true? A. Bank service charge will cause the cash balance per ledger to be higher than that reported by the bank, all other things being equal. B. Outstanding checks will cause the cash balance per ledger to be greater than the balance reported by the bank, all other things being equal C. An error made by the bank by charging an amount to the depositor's account requires a correcting entry in the depositor's own records D. The cash amount shown in the balance sheet must be the balance reported in the bank statement.
Transcribed Image Text:Which statement is true? A. Bank service charge will cause the cash balance per ledger to be higher than that reported by the bank, all other things being equal. B. Outstanding checks will cause the cash balance per ledger to be greater than the balance reported by the bank, all other things being equal C. An error made by the bank by charging an amount to the depositor's account requires a correcting entry in the depositor's own records D. The cash amount shown in the balance sheet must be the balance reported in the bank statement.
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