Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a check correctly written and paid by the bank for $491 is incorrectly recorded on the companys books for $419, the appropriate treatment on

If a check correctly written and paid by the bank for $491 is incorrectly recorded on the companys books for $419, the appropriate treatment on the bank reconciliation would be to

Select one:

a. subtract $72 from the books balance

b. deduct $72 from the banks balance

c. add $72 to the books balance

d. deduct $491 from the books 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

Step: 3

blur-text-image

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

Accounting And Financial System Reform In Eastern Europe And Asia

Authors: Robert W. McGee, Galina G. Preobragenskaya

2nd Edition

0387257098, 9780387257099

More Books

Students also viewed these Accounting questions

Question

What is a job analysis?

Answered: 1 week ago

Question

What are the main provisions of the Fair Labor Standards Act?

Answered: 1 week ago