If a check correctly written and paid by the bank for $438 is incorrectly recorded on the company's books for $483, the appropriate treatment on the bank reconciliation would be to
A) add $45 to the bank's balance.
B) add $45 to the book's balance.
C) deduct $45 from the bank's balance.
D) deduct $438 from the book's balance.
Correct Answer:
Verified
Q22: An application of good internal control over
Q24: Examples of _ include safes, vaults and
Q28: Designating personnel who are authorized to sign
Q31: Which of the following would be deducted
Q66: Allowing only designated personnel to handle cash
Q81: When opening a bank checking account a
Q93: Allowing only the treasurer to sign checks
Q110: Deposits in transit
A) have been recorded on
Q118: Which one of the following would not
Q143: All of the following would involve a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents