This teacher is 1000x better than my university's teacher and this method of learning is 10000000000x better than attending my class, wasting my time and trying hard to learn. Here I can pause the video to think & repeat the samething over & over again to learn properly, which is GREAT.
Recording error on check means that the bank discovered an error on check,and in our case they understated the account with 9 $ so they corrected it by adding 9$, but the company didn't know about that so the company's books must also be adjusted by adding 9$ .
Because it was a bank error. The bank mistakenly deducted $400 from Chung's account from a check written by another company (Wald Company). So in our bank rec, we have to add that money back to the Bank Balance and then contact the bank to fix it.
shenell dixon Check out the slide he showed in the previous video, Bank Errors get Added OR Deducted. Based on the example, we already DEDUCTED $654 mistakenly, it should have been deducted for $645 (Credit to Cash for $654), so we ADD $9 back.
This teacher is 1000x better than my university's teacher and this method of learning is 10000000000x better than attending my class, wasting my time and trying hard to learn. Here I can pause the video to think & repeat the samething over & over again to learn properly, which is GREAT.
Just 10 more lectures to go
I love you Mr Dave....you are so great...Thanks very much.
Thank you, Great teaching plainly explained.
Thank you sir Krug!!
I come back again for the Jazz music.
great help!
Do we need to keep receipts for autopay? For example monthly utility autopay. Can we keep the bank statement only, would that be suffice?
Thanks sir!
Why is Recording error on check added to the book balance and not deducted for the Cruz Company HW? @14:44
Recording error on check means that the bank discovered an error on check,and in our case they understated the account with 9 $ so they corrected it by adding 9$, but the company didn't know about that so the company's books must also be adjusted by adding 9$ .
14:36 HW QS 8-6
I am not getting bank reconciliation down, why was the $400 added to the bank statement side. Please help!
Because it was a bank error. The bank mistakenly deducted $400 from Chung's account from a check written by another company (Wald Company). So in our bank rec, we have to add that money back to the Bank Balance and then contact the bank to fix it.
i really don't get the 'bank error' part!!!! please help huhuhu
yea me too. I thought it suppose to be on the less side
shenell dixon Check out the slide he showed in the previous video, Bank Errors get Added OR Deducted. Based on the example, we already DEDUCTED $654 mistakenly, it should have been deducted for $645 (Credit to Cash for $654), so we ADD $9 back.
He put brackets between and number (9) = must be deducted
Is outstanding cheque the same as unpresented cheque?
Yes
@@shermilaprospere4259 thank you!
thanks
كباشي التاج محمد 👍