(answered) – 1 When preparing a bank reconciliation, a deposit outstanding
(answered) – 1 When preparing a bank reconciliation, a deposit outstandingDescriptionSolution downloadThe Question1 When preparing a bank reconciliation, a deposit outstanding would be _______ while a check outstanding would be ________:A)Added to the company?s cash balance; Subtracted from the company?s cash balance.B)Added to the bank?s cash balance; Subtracted from the bank?s cash balance.C)Subtracted from the company?s cash balance; Added to the company?s cash balance.D)Excluded from all reconciliation as this is a non-cash transaction.E)Subtracted from the bank?s cash balance; Added to the bank?s cash balance.2. Which of the following is an example of a closing entry?A)Debit to Service Revenue; Credit to Retained EarningsB)Debit to Retained Earnings; Credit to Prepaid InsuranceC)Debit to Service Expense; Credit to Retained EarningsD)Debit Supplies; Credit Accounts PayableE)Debit Dividends; Credit Cash
AcademicPaperExperts.com is a platform where students from all over the globe can get assignment assistance. It is our endeavor to provide customized assignments which are authentic for students in the United States, United Kingdom, New Zealand, Australia and other countries around the globe. Our team undergoes thorough training to handle all the inquiries in a professional manner. We do not set the bar in custom essay writing, we are the bar. All the custom papers and essays you order are written by our writers in tandem with your requirements.