Ask Question
BusinessBusiness
11 July, 19:22

Why would transactions completed on the last day of the month be "outstanding" on the blank statement?

+4
Answers (1)
  1. 11 July, 20:55
    0
    I believe the answer is: Not enough time to go through the bank system

    Bank statement is created by the end of the month. When a transaction is completed on the last day, the record of the transaction might be recorded on the bank statement for the next month, To correct the imbalance, we just need to conduct a bank reconciliation.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Why would transactions completed on the last day of the month be "outstanding" on the blank statement? ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
GCM Corporation had a 1/1/14 balance in the Allowance for Doubtful Accounts of $25,000. During 2014, it wrote off $18,000 of accounts and collected $5,250 on accounts previously written off.
Answers (1)
Firm A has a debt-equity ratio of. 5. Firm B has a debt-equity ratio of. 8. All other features of these firms are identical. The return on equity of Firm A is: A. Equally as volatile as the return of equity of Firm B. B.
Answers (1)
A share stock is a small piece of ownership in a company Ture or false
Answers (2)
Whispering Winds Corp. uses the percentage of receivables method for recording bad debts expense. The accounts receivable balance is $190000 and credit sales are $1910000. Management estimates that 5% of accounts receivable will be uncollectible.
Answers (1)
The decision of which assumptions to make is:a. an easy decision for an economist, but a difficult decision for a physicist or a chemist. b. not a particularly important decision for an economist. c. usually regarded as an art in scientific thinking.
Answers (2)
New Questions in Business
When responding to behavioral interview questions, you should briefly explain the situation and describe the problem or task, your action, and its results. True or false?
Answers (1)
Which of the following accounts neither increases nor decreases the fund balance of the General Fund during the fiscal year? A. Deferred revenues. B. Revenues. C. Expenditures. D. Other financing sources.
Answers (1)
At Afterbadge, a chain of stores that sells computer accessories, all the marketing activities are planned at the company headquarters. These plans are required to be carried out by the employees without any deviation.
Answers (1)
A teacher writes the results of a test on the board: 7 students received a's, 10 students received b's, 18 students received c's, 4 students received d's and 1 student received an f.
Answers (1)
Shankar Company uses a perpetual system to record inventory transactions. The company purchases inventory on account on February 2 for $34,000.
Answers (2)
Home » Business » Why would transactions completed on the last day of the month be "outstanding" on the blank statement?
Sign Up Forgot Password?