Author Question: Which of the following would be subtracted from the ledger balance of cash when preparing a bank ... (Read 16 times)

KWilfred · **on:** Jul 6, 2018

Which of the following would be subtracted from the ledger balance of cash when preparing a bank reconciliation?
a. deposit in transits.
b. outstanding checks.
c. notes collected by the bank.
d. bank service charges.

Question 2

Assume ABC uses the average cost method of inventory valuation. What unit cost would be used to determine the amount in ending inventory or cost of goods sold?

a. 12.67
b. 13.60
c. 15.00
d. 13.00