Which one of the following items would be subtracted from the balance per books in a bank reconciliation
A) Outstanding checks
B) Deposit in transit
C) Service charges
D) Interest on customer note

Question

Quizplus · Accepted Answer

Service charges would be subtracted from the balance per books in a bank reconciliation because these fees are charged by the bank and have not yet been recorded in the company's accounting records. Outstanding checks and deposits in transit would need to be added to the balance per books, while interest on a customer note is not relevant to the bank reconciliation process.

Which One of the Following Items Would Be Subtracted from the Balance