Journal entries based on the bank reconciliation are required in the company's accounts for
Journal entries based on the bank reconciliation are required in the company's accounts for
outstanding checks
deposits in transit
bank errors
book errors
Homework Answers
Answer:
Journal entry based on bank reconciliation are required in company's books of accounts are for the outstanding checks because on the end date of relevant Financial year there might be some checks which are issued by the entity but not yet presented in the bank. For such checks the bank balance in books and bank statement might be different. To reconcile such balance adjustment entries to be passed.
So correct answer is Option A.
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Journal entries based on the bank reconciliation are required in the company's accounts for
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please help prepare the journal entries after the bank reconciliation and adjusting entries are made 3. Using the fo...
please help prepare the journal entries after the bank
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please help prepare the journal entries after the bank
reconciliation and adjusting entries are made
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bank reconilation help me plz
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