If a company recorded a check they wrote as $729 when it should have been recorded as being written for $279, which of the following must occur when reconciling its bank statement?    A. Add $450 to the bank statement balance.  B. Deduct $450 from the bank statement balance.  C. Deduct $450 from the company’s records.  D. Add $450 to the company’s records.

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A:

Q: The following items may appear on a bank statement: Bank correction of an error from recording a…

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A: Difference of amount in bank and company's book = $541 - $514 = $27

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.