How to prepare a bank reconciliation statement for the month.

Which one of the following costs will not be included in the cost of equipment?

a. Installation
b. Freight
c. Testing
d. Annual insurance

What is the journal entry for recovery of bad debts written off?

Which of the following statements is true of the debt to equity ratio?

A. If the debt to equity ratio is less than 1, then the company is financing more assets with debt than with equity.

B. If the debt to equity ratio is greater than 1, then the company is financing more assets with equity than with debt.

C. The higher the debt-to-equity ratio, the lower the company's financial risk.

D. The higher the debt-to-equity ratio, the greater the company's financial risk.

Which of the following statements is true regarding variable costing?

a. It is the required method for external financial reporting.
b. It includes direct materials, direct labor, and variable overhead costs in product costs.
c. It is not permitted to be used for managerial reporting.
d. It treats overhead in the same manner as absorption costing, it makes it easier to manipulate earnings with changes in production levels

Using the internal rate of return method, a project is rejected when the rate of return is greater than or equal to the required rate of return.(True or False)

What are the duties and responsibilities of a Bank Reconciliation Officer?

Which of the following would not be found in the accounting system of a service provider?

a.finished goods ledger

b.deferred revenue account

c.job cost sheets

d.cost ledger

What is a Bank Reconciliation Statement? Give an example.

Accumulated Depreciation:

A. appears in the asset section of a balance sheet.

B. appears on the income statement.

C. is a liability on the balance sheet.

D. is a contra-stockholders' equity item.

When a new partner is admitted to a partnership, there should be a(n)

a. revaluation of assets

b. realization of assets

c. allocation of assets

d. return of assets

What type of assets require adjusting entries to record depreciation?

How often should a bank reconciliation be done?

What is the purpose of preparing a bank reconciliation?