Service charges should be subtracted. Those charges are deducted because the book balance is not acknowledged by the company yet. The other possible answers are not correct because they refer to reconciling items Order custom essay Which of the following would be subtracted from the balance per books on a bank reconciliation? with free plagiarism report GET ORIGINAL
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Which of the following would be subtracted from the balance per bank on bank reconciliation?Bank service charges should be subtracted from the balance on a bank reconciliation.
What would be deducted from balance on a bank reconciliation?Bank Reconciliation Procedure
Deduct any outstanding checks. This will provide the adjusted bank cash balance. Next, use the company's ending cash balance, add any interest earned and notes receivable amount. Deduct any bank service fees, penalties, and NSF checks.
What is added and subtracted on a bank reconciliation?The essential process flow for a bank reconciliation is to start with the bank's ending cash balance, add to it any deposits in transit from the company to the bank, subtract any checks that have not yet cleared the bank, and either add or deduct any other items.
Which of the following would be added to the balance per company records on a bank reconciliation?Answer choice: D.
The cash collected by the bank would be an increase to the balance per the books on a bank reconciliation. Outstanding checks and deposits in transit would be adjustments to the bank balance on a bank reconciliation. Service charges would be a deduction to the balance per books.
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