Answered: What are some of the reasons the bank…

What are some of the reasons the bank statement balance does not match the company's general ledger cash account? Discuss 4 differences and what the affects are on the bank reconcilaition.

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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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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What are some of the reasons the bank statement balance does not match the company's general ledger cash account? Discuss 4 differences and what the affects are on the bank reconcilaition.

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