Improper Bank Reconciliation and Accounting Systems
Document Type:Essay
Subject Area:Accounting
Tabulated and organized in a presentable format. Inanother word, the general ledger is the final book of entry which gives the status of the enterprise performance and financial health attributes. The case of Linebarger Company which is on the trail of meeting the insurance company agreement of maintaining a final balance of $200000 in their end month yet it has a deficit of $120000 of which the is a check of $ 150000 from Oconto distributors which they sent a day before the closure of the month books of account. It means if they just recognize the Oconto check in the month of June then rest assured that they are free from the trial of the agreement they abided to. This occurrence depicts a problem in the company system of accounting procedure of improper cash-bank financial reconciliation.
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