Bank Reconciliation CPA Exam Simulation Intermediate Accounting
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- čas přidán 6. 08. 2024
- IN this session, I cover a bank reconciliation that could appear on the CPA exam in a form of simulation. A bank reconciliation statement summarizes banking and business activity, reconciling an entity's bank account with its financial records. Bank reconciliation statements confirm that payments have been processed and cash collections have been deposited into a bank account. Bank reconciliation is covered on the CPA exam and intermediate accounting course. Farhat Accounting lectures can help teach the how to prepare a bank reconciliation.
✔️Accounting students and CPA Exam candidates, check my website for additional resources: farhatlectures.com/
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thank you!!! this is great!
Please connect with me: linktr.ee/farhatlectures
I did jt ysing the opening and closing approach of ourstanding checks and deposits in gransit and later adjusted the errors to the closing balance of books and viola!!
Thanks for the SIM. This is actually very comparable to what I had on my exam.
Glad I could help! Please take a look at my FAR resources: farhatlectures.pathwright.com/library/?category=CPA+Exam+FAR
Bold your writing
why do we minus 1600 2 times, first we considered it as minus from DIT and then again minus as error
Why do we deduct the 1600 bank error twice? Thanks!
Where can I find this sim so I can practice on my own?
So... we have cleared the checks except one , i know that cleared checks from previous months are deducted, but... why the #365 check is deducted without being cleared?
When you calculate the DIT of december , why didnt you diduct the NSF from the deposits in the books ?
You account for the DIT and NSF separately. How do you know that the NSF was part of the DIT?
@@AccountingLectures
Becase the NSF was check that I received in december. so if I want to calculate the DIT for december I need to diduct for the same reason I add the 90 to the disbursement when I calculate the check outstanding for december
Why nfs deducted in the bank account while the bank didn’t accept the checks
Furst, the bank deposit the money as if it is a good check then deduct when they find out otherwise. www.farhatlectures.com
Also, how did 204 come?
Can you please tell how 41574 came?
How did 41574 come?