1. What item from the company’s records must be added to the bank balance when reconciling the bank statement?
Deposits in Transit
Bank Fees
None of the options are correct
Outstanding Checks
2. For corporations, capital losses are deductible:
to the extent of the capital gains included in gross income.
to the extent they exceed capital gains included in gross income.
to the extent of the capital expenditures included in gross income.
to the extent of capital gains plus $3,000.