Author Question: A decrease in accrued liabilities should be _____ to convert net income to cash flow from operating ... (Read 102 times)

asd123 · **on:** Jul 6, 2018

A decrease in accrued liabilities should be _____ to convert net income to cash flow from operating activities.

Fill in the blanks with correct word

Question 2

Explain the difference between debit and credit memos on a bank statement and how they affect the company books. Give examples of each.

tsternbergh47 · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

subtracted

Answer to Question 2

Debit memos are deductions by the bank to the company's account and thus to the ledger balance of cash when the journal entry is made. Service charges, check printing charges, and collection charges are examples of debit memos. Credit memos are additions by the bank to the ledger balance of cash when the journal entry is made. Bank collection of a note is an example of a credit memo.