Solution Found!
Proving Cash a. When does a business that uses special journals update the Cash in Bank
Chapter 17, Problem 7(choose chapter or problem)
QUESTION:
Proving Cash
a. When does a business that uses special journals update the Cash in Bank account in the general ledger?
b. How does an accountant prove cash?
Questions & Answers
QUESTION:
Proving Cash
a. When does a business that uses special journals update the Cash in Bank account in the general ledger?
b. How does an accountant prove cash?
ANSWER:Step 1 of 3
Cash balance is the total of cash reserves a company holds in its bank accounts at a specific time. The total cash balance is reported in the balance sheet as they are the current assets of the company.