Explore BrainMass

Explore BrainMass

    Bank statement, chart of accounts

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Why does your bank statement show a credit for an increase in your cash balance?
    Is the chart of accounts the same for every organization? If not, why not and "should it be?"

    © BrainMass Inc. brainmass.com March 4, 2021, 5:53 pm ad1c9bdddf

    Solution Preview

    An increase in your cash balance is actually a liability for the bank, and hence the credit for every increase. From the bank's perspective, the more you save, the more the ...