If a check correctly written and paid by the bank for $484 is incorrectly recorded on the company's books for $448, the appropriatetreatment on the bank reconciliation would be toadd $36 to the book's balance.subtract $36 from the book's balance.deduct $36 from the bank's balance.deduct $484 from the book's balance.O O O O

Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

If a check correctly written and paid by the bank for $484 is incorrectly recorded on the company's books for $448, the appropriate treatment on the bank reconciliation would be to O add $36 to the book's balance. O subtract $36 from the book's balance. O deduct $36 from the bank's balance. O deduct $484 from the book's balance.

If a check correctly written and paid by the bank for $484 is incorrectly recorded on the company's books for $448, the appropriate treatment on the bank reconciliation would be to O add $36 to the book's balance. O subtract $36 from the book's balance. O deduct $36 from the bank's balance. O deduct $484 from the book's balance.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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While performing its monthly bank reconciliation, XYZ Inc. discovered that it recorded a cash receipt from a customer for an incorrect amount. The company debited “Cash” and credited “Sales Revenue” for $920 instead of $290. On its bank reconciliation, how should the company adjust for this error? Add $630 to the company (book) side. Subtract $630 from the company (book) side. Add $630 to the bank side. Subtract $630 from the bank side.
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A Moving to another question will save this response. Question 11 On a bank reconciliation, the amount of NSF checks not yet recorded by the company should be: A. Added to the bank balance of cash. В. Deducted from the bank balance of cash. C. Deducted from the book balance of cash. D. Added to the book balance of cash. Moving to another question will save this response.
Please correct answer and don't use hend raiting
In preparing a bank reconciliation, the amount of outstanding checks is added to the balance per bank statement. OTrue False