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prohojiy [21]
3 years ago
14

Based on the following information, what amount would be subtracted from the bank balance side of a checking account reconciliat

ion? Service charge $41, Outstanding checks $295, Interest $12, Deposit in transit $870.
Business
1 answer:
vovangra [49]3 years ago
4 0

Answer:

The answer is is outstanding checks of $295

Explanation:

Bank reconciliation is the practice of reconciling balance per general ledger cash book at bank account and balance per bank statement.

Most times there are discrepancies because what might have been debited at month end might not have been recorded by the business due to delay in bank sending message or what might have been recorded in the general ledger cash bank account might not have been recorded by the bank maybe due to downtime problem.

As per bank balance side of bank reconciliation, unpresented check(outstanding checks) will be deducted from the balance per bank statement because this has already been recorded by the business ( reduction in balance per general cash at bank account). What can cause this might be delay in suppliers presenting it to the bank for that month. So outstanding checks of $295 will reduce balance per bank statement

Interest, service charge will be on bank statement already because it is directly charged by the bank but might not be on the ledger cash bank account.

Deposit in transit of $870 will increase balance per bank statement

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Answer:

d) <u>cash flow</u>

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A nation has a GDP of 685m. It has a growth rate of 4%. How long will it take the nations GDP to double?
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7 0
3 years ago
2. You now have Birr 2,000,000 in the bank earning interest of .5 percent per month. You need Birr 3,000,000 to make a down paym
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The number of months that it would take me to accumulate the Birr 3,000,000 is 50 months.

<h3>How many months would it take to accumulate 3,000,000?</h3>

The equation that represents the total amount saved :

Total amount =amount invested +  total interest earned + total amount earned

Total interest earned = amount invested x time x interest rate

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1,000,000 = 20,000m

m = 50 months

To learn more about interest, please check: brainly.com/question/26164549

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From my according

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