ACCOUNTING 5 &6 Question 3 (of 20) 3 O determine whether or not the entity has...

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Answer 1

Answer #1

Determine the amount of cash in the account actually available to the entity.

This is because adjusting the cash balance, adjusts it to cash available balance that is infact actual.
For example, if a company received a check and deposited in bank, it will increase cash balance in books, but the check will be OUTSTANDING for a while, and will not increase balance in bank.
Hence, while reconciling, Outstanding check will be deducted from cash balance in book.

Answer 2

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