Question
Question 1) During a bank reconciliation, it is discovered that a deposit has been recorded by the bank, but it is not in the companys
Question 1) During a bank reconciliation, it is discovered that a deposit has been recorded by the bank, but it is not in the companys records. On the reconciliation, this deposit should be:
Added to the bank side | ||
Deducted from the bank side | ||
Added to the book side | ||
Deducted from the book side | ||
Deducted from the bank side and added to the book side |
Question 2) While reviewing a trial balance, you notice the following account balances. Which one is likely to be an error?
Cash with a debit balance of $89,000 | ||
Sales Discounts with a debit balance of $3,000 | ||
Inventory with a credit balance of $6,600 | ||
Retained Earnings with a credit balance of $80,000 | ||
Cost of Goods Sold with a debit balance of $123,000 |
Please answer all of these questions and don't skip any due to chegg's policy
Thank you so much I WILL upvote you if all the questions will be correct
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