Which of the following is a book reconciling item? a.notes receivable collected by the bank b.cash on hand awaiting deposit c.collections already forwarded to the bank for deposit but too late to appear in the bank statement d.Checks drawn and already given to payees but not yet presented for payment

Which of the following is a book reconciling item? a.notes receivable collected by the bank b.cash on hand awaiting deposit c.collections already forwarded to the bank for deposit but too late to appear in the bank statement d.Checks drawn and already given to payees but not yet presented for payment

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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Which of the following is a book reconciling item?

a.notes receivable collected by the bank

b.cash on hand awaiting deposit

c.collections already forwarded to the bank for deposit but too late to appear in the bank statement

d.Checks drawn and already given to payees but not yet presented for payment

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