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4 Cards in this Set

  • Front
  • Back
What are some items excluded from cash?
Compensating Balances - legally restricted deposits
Postdated checks(NFS) - are receivables
Overdraft Protection
-same bank? net them
-diff, positive is asset, negative is liability
Restricted cash
Postage stamps - prepaid expense
You adjust which items to arrive at balance per BANK?
Balance on stmt
+Deposits in trans
-Outstanding cks
+/- Errors by bank
=Corrected balance
To arrive at balance per BOOKS, which adjustments are made?
Checkbook balance
+amts collect by bank
-bank chrgs
+/- errors in recording
=Corrected balance
What are some examples of cash and cash equivalents?
Coin/currency(petty cash)
Money mkt accts
Unmailed checks
Savngs Acct
CDs (maturity in 3 mo or less)
Negotiable paper (bank checks, travelers checks, money orders)