Outstanding cheques from the prior period which clear the bank in the current period
A)should be added to the balance per books.
B)should be deducted from the balance per books.
C)should be deducted from the balance per bank.
D)do not affect the current period's bank reconciliation.

Question

Quizplus · Accepted Answer

Outstanding checks from the prior period that clear in the current period are already accounted for in the previous period's reconciliation and do not affect the current period's reconciliation, as they will be part of the normal bank transactions reflected in the current period's bank statement.

Outstanding Cheques from the Prior Period Which Clear the Bank