Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

6. Internal Controls and Reporting Cash

Bank Reconciliation

Financial Accounting

6. Internal Controls and Reporting Cash

Bank Reconciliation

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Multiple Choice

Which of the following items is typically documented on a bank statement provided to a company?

Company's book balance

Outstanding checks

Bank service charges

Deposits in transit

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Verified step by step guidance

Understand the purpose of a bank statement: A bank statement is a document provided by a bank to its account holders, summarizing the transactions and balances in their account over a specific period.

Identify the items typically included in a bank statement: Bank statements generally include details such as deposits, withdrawals, checks cleared, bank service charges, and the ending balance.

Clarify the items listed in the problem: The options provided include 'Company's book balance,' 'Outstanding checks,' 'Bank service charges,' and 'Deposits in transit.'

Analyze each option: 'Company's book balance' and 'Deposits in transit' are not documented on a bank statement because they are part of the company's internal records. 'Outstanding checks' are checks issued by the company but not yet cleared by the bank, so they are also not part of the bank statement. 'Bank service charges,' however, are fees charged by the bank and are typically documented on the bank statement.

Conclude that the correct answer is 'Bank service charges,' as this is the item typically documented on a bank statement provided to a company.