What will you do in the cash receipt during the current month? * Multiply Divide Add Deduct Which of the following is correct regarding deposit in transit from the previous month? * The amount has...

In proof of cash:

Extracted text: What will you do in the cash receipt during the current month? * Multiply Divide Add Deduct Which of the following is correct regarding deposit in transit from the previous month? * The amount has already been added to the beginning balance of the bank The amount will be added to the deposit column and to the bank books total updated balance Which of the following is correct regarding Outstanding Checks from the previous month? * Deduct from ending balance, then add to withdrawals Deduct from the beginning balance, deduct from the withdrawals


Extracted text: If balances shown on a company's bank statement is less than the correct cash balance and neither the company nor the bank has made any errors Outstanding Checks Deposit in Transit A proof of cash includes a reconciliation of cash receipts deposited in the bank with the cash disbursements records for a given period. * True False A proof of cash helps the auditor determine whether all recorded cash receipts were deposited in the bank and whether all recorded cash disbursements were paid by the bank. * True False