It was the end of a very long first month in Kara Noble's sole proprietorship....
80.2K
Verified Solution
Question
Accounting
It was the end of a very long first month in Kara Noble's sole proprietorship. Between moving into a new apartment and teaching dance classes five nights a week, there was not much downtime. Consequently, the mail had started to pile up Kara spotted her first bank statement from US Bank. The format was different from what she was used to and she was startled to see the ending balance of $ less than the balance she thought she had. Kara went to her business checkbook. What steps should Kara take to reconcile her bank statement? A List the items on the bank statement that are not in the register and enter them in the register. List the items on the register that are not on the bank statement and enter them as outstanding items on the bank statement reconciliation form. Calculate the adjusted statement balance. Compare the adjusted statement balance with the adjusted register balance confirm that they match. B Check all matching transactions on the bank statement and register. List the items on the bank statement that are not in the register, enter them in the register, and update the balance. List the items in the register that are not on the bank's statement as outstanding items. Calculate the adjusted statement balance. Compare the adjusted statement balance with the adjusted register balance confirm that they match. C Check all matching transactions on the bank statement and register. List the items on the bank statement that are not in the register, enter them in the register, and update the balance. List the items in the register that are not on the bank's statement as outstanding items. Calculate the adjusted statement balance. Compare the adjusted statement balance with the adjusted register balance.
It was the end of a very long first month in Kara Noble's sole proprietorship. Between moving into a new apartment and teaching dance classes five nights a week, there was not much downtime. Consequently, the mail had started to pile up Kara spotted her first bank statement from US Bank. The format was different from what she was used to and she was startled to see the ending balance of $ less than the balance she thought she had. Kara went to her business checkbook. What steps should Kara take to reconcile her bank statement?
A List the items on the bank statement that are not in the register and enter them in the register. List the items on the register that are not on the bank statement and enter them as outstanding items on the bank statement reconciliation form. Calculate the adjusted statement balance. Compare the adjusted statement balance with the adjusted register balance confirm that they match.
B Check all matching transactions on the bank statement and register. List the items on the bank statement that are not in the register, enter them in the register, and update the balance. List the items in the register that are not on the bank's statement as outstanding items. Calculate the adjusted statement balance. Compare the adjusted statement balance with the adjusted register balance confirm that they match.
C Check all matching transactions on the bank statement and register. List the items on the bank statement that are not in the register, enter them in the register, and update the balance. List the items in the register that are not on the bank's statement as outstanding items. Calculate the adjusted statement balance. Compare the adjusted statement balance with the adjusted register balance.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.