ACC 201 WORKSHOP FOUR BANK RECONCILIATION HANDOUT FOR 4.3 DROPBOX
Download Bank Reconciliation Handout for 4.3 Dropbox Review the questions below. As you watch the videoConcepts of Bank Reconciliation, take notes and answer the following questions for Dropbox submission:
Question 1. From the bank’s perspective, what would increase when we make a cash deposit?
2. What are the two main differences responsible for making the company’s checking account balance not equal to the bank’s balance?
3. When we make a deposit to the bank account related to sales, what are the debits and credits made on a company’s books and on the bank’s books?
4.
What are some of the reasons for timing differences between a company’s books and the bank’s books?
5. With advances in technology such as debit cards, electronic funds transfers, and online payments, what might we expect to see as a trend in timing differences?
6.
What is the end product of a bank reconciliation?