You are reviewing the account balances on the balance sheet in QBO at the end of January
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Question:
You are reviewing the account balances on the balance sheet in QBO at the end of January 20x1. The balance on the balance sheet for the checking account seems low to you. You know that you have personally taken all the checks and cash to the bank and deposited them with the bank. Based on the partial balance sheet below, what might be a reason your checking account balance in QBO appears low?
Teacher feedback: Look at the scenario again, is there something within QBO that perhaps the accountant thought they did but really didn't. Ask your self if the person said all the checks were taken to the bank, why are there undeposited funds? How do you fix that?
Related Book For
Financial Accounting Information For Decisions
ISBN: 978-0324672701
6th Edition
Authors: Robert w Ingram, Thomas L Albright
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