Which of the following items are reconciling items on the bank side of the reconciliation?
A) outstanding checks and correction of book error
B) deposit in transit and NSF check
C) deposit in transit and outstanding checks
D) bank service charge and correction of book error

Question

Quizplus · Accepted Answer

Deposits in transit and outstanding checks are reconciling items on the bank side of a bank reconciliation. Deposits in transit are amounts that have been received and recorded by the company but not yet recorded by the bank, while outstanding checks are checks the company has issued and recorded but have not yet been cleared by the bank.

Which of the Following Items Are Reconciling Items on the Bank