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Why must a company hold liquid assets

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Reference no: EM131533546

Question: 1. For each of the following items, indicate whether its amount

(i) affects the bank or book side of a bank reconciliation and

(ii) represents an addition or a subtraction in a bank reconciliation.

a. Outstanding checks

b. Debit memos

c. NSF checks

d. Unrecorded deposits

e. Interest on cash balance

g. Bank service charges

f. Credit memos

2. Which of the items in part 1 require an adjusting journal entry?

3. Why must a company hold liquid assets?

4. Why does a company hold cash equivalent assets in addition to cash?

Reference no: EM131533546

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