Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a check correctly written and paid by the bank for $637 is incorrectly recorded on the company's books for $67, the appropriate treatment on

image text in transcribed
If a check correctly written and paid by the bank for $637 is incorrectly recorded on the company's books for $67, the appropriate treatment on the bank reconciliation would be to O add $36 to the book's balance O deduct $637 from the book's balance subtract $36 from the book's balance O deduct $36 from the bank's balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cutting Edge Internal Auditing

Authors: Jeffrey Ridley

1st Edition

0470510390, 978-0470510391

More Books

Students also viewed these Accounting questions

Question

Define stock dividend. How does it differ from a cash dividend?

Answered: 1 week ago

Question

Describe the seven standard parts of a letter.

Answered: 1 week ago

Question

Explain how to develop effective Internet-based messages.

Answered: 1 week ago

Question

Identify the advantages and disadvantages of written messages.

Answered: 1 week ago