The Items Listed Below Were Identified While Preparing a Bank

question 17

Multiple Choice

The items listed below were identified while preparing a bank reconciliation for the company's checking account as of March 31.Cash balance according to the general ledger


-Refer to Dance Town Academy. How will the deposits in transit be handled on a bank reconciliation?

• A)add to the balance from the company records
• B)subtract from the balance from the company records
• C)add to the bank statement balance
• D)subtract from the bank statement balance

---

Definitions:

Nonprofit's Opportunity

The chance for nonprofit organizations to pursue their mission, often through funding, partnerships, or innovations that align with their goals.

Government Support

Financial or regulatory assistance provided by the government to businesses, organizations, or individuals, often aiming to promote certain economic activities or social goals.

For-profit Corporation

A type of business entity that is primarily focused on earning profits for its shareholders, contrasting with nonprofit organizations that aim to serve a social or public benefit.

Letter Contracts

Preliminary written agreements outlining the terms between parties for goods or services, used before final contracts are signed.