Author Question: During a bank reconciliation process, a. outstanding checks and deposits in transit are added to ... (Read 109 times)

dalyningkenk · **on:** Jul 5, 2018

During a bank reconciliation process,
a. outstanding checks and deposits in transit are added to the bank statement balance
b. outstanding checks are subtracted and deposits in transit are added to the bank statement balance
c. outstanding checks and deposits in transit are subtracted from the bank statement balance
d. outstanding checks are added and deposits in transit are subtracted from the bank statement balance

Question 2

The beginning balance in accounts payable was 4,365. The ending balance was 2,995. How is the accounting information for these items reported on the statement of cash flows using the indirect method?

What will be an ideal response?

mirabriestensky · **Reply #1 on:** Jul 5, 2018

Answer to Question 1

b

Answer to Question 2

The 1,370 net decrease will be subtracted from net income in the operating activities section of the statement.