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(answered) – 1 When preparing a bank reconciliation, a deposit outstanding

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(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