Which of the following is NOT a common reconciling item recorded in preparation of a company's 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 common reconciling items recorded in preparation of a company's bank reconciliation. Cash in other accounts is not a reconciling item as it is already recorded in the company's accounting records and does not need to be adjusted for in the bank reconciliation process.

Which of the Following Is NOT a Common Reconciling Item