If a check correctly written and paid by the bank for $638 is incorrectly recorded on the company's books for $683, the appropriate treatment on the bank reconciliation would be to deduct $45 from the bank's balance. O subtract $45 from the book's balance. deduct $638 from the book's balance. add $45 to the book's balance.
If a check correctly written and paid by the bank for $638 is incorrectly recorded on the company's books for $683, the appropriate treatment on the bank reconciliation would be to deduct $45 from the bank's balance. O subtract $45 from the book's balance. deduct $638 from the book's balance. add $45 to the book's balance.
Chapter8: Fraud, Internal Controls, And Cash
Section: Chapter Questions
Problem 15MC: Which of the following items are found on a book side of the bank reconciliation? A. beginning bank...
Related questions
Question
If a check correctly written and paid by the bank for $638 is incorrectly recorded on the company's books for $683, the appropriate treatment on the bank reconciliation would be to
deduct $45 from the bank's balance.
O subtract $45 from the book's balance.
deduct $638 from the book's balance.
add $45 to the book's balance.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
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.Recommended textbooks for you
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Financial Accounting
Accounting
ISBN:
9781337272124
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781305084087
Author:
Cathy J. Scott
Publisher:
Cengage Learning