Which of the following is NOT a common reconciling item recorded in preparation of a company's period bank reconciliation(s)?
A)deposits in transit
B)bank charges
C)cash in other accounts
D)bank credits

Question

Quizplus · Accepted Answer

Deposits in transit, bank charges, and bank credits are all common reconciling items recorded in preparation of a company's period bank reconciliation. However, cash in other accounts is not relevant to the bank reconciliation process as it represents funds that are not held by the bank being reconciled.

Which of the Following Is NOT a Common Reconciling Item