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
icon
Related questions
Question
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
add $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
Transcribed Image Text: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 add $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
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Bank reconciliation statement
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education