Solved

Match Each of the Following Steps in the Bank Reconciliation

Question 194

Matching

Match each of the following steps in the bank reconciliation process to the situations below.Some of the steps may be used more than once.

Premises:
Deposits in transit
Outstanding checks
Team Shirts correctly deposited a check for $153.The bank recorded the check as $135.
NSF check
Monthly service fees charged by the bank
Responses:
Deduct from the balance on the company's books
Deduct from the balance on the bank statement
Add to the balance on the bank statement
Add to the balance on the company's books

Correct Answer:

Deposits in transit
Outstanding checks
Team Shirts correctly deposited a check for $153.The bank recorded the check as $135.
NSF check
Monthly service fees charged by the bank
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