Which of the following supports the accrual basis of accounting? revenue recognition concept, cash concept, mathcing concept, or revenue recognition and matching concepts?

1 answer

1. For each of the following items, indicate whether its amount (i) affects the bank or book side of a bank reconciliation and (ii) represents an addition or a subtraction in a bank reconciliation:
a. Outstanding checks d. Unrecorded deposits g. Bank service charges
b. Debit memos e. Interest on cash balance
c. NSF checks f. Credit memos
2. Which of the items in part 1 require an adjusting journal entry?
Similar Questions
  1. Accounting 1 Help!1. An accountant records a transaction when cash is paid or received under which basis of accounting? cash
    1. answers icon 1 answer
  2. What is the difference between cash basis and accrual basis accounting?Why do accrual-basis financial statements provide more
    1. answers icon 0 answers
    1. answers icon 0 answers
  3. Sales do not equal cash inflow because __________.sales are on the cash basis of accounting companies do not necessarily collect
    1. answers icon 1 answer
more similar questions