Asked by Austin isaacs on May 05, 2024
Verified
Which of the following would be added to the balance per books on a bank reconciliation?
A) service charges
B) outstanding checks
C) deposits in transit
D) notes collected by the bank
Balance Per Books
The ending balance in a company's accounting records for a specific account.
Notes Collected
Receipts from the collection of promissory notes, representing cash inflows from financial claims against others.
- Evaluate the constituents of bank reconciliation to synchronize the figures of book and bank balances.
Verified Answer
VJ
vaccardo johnsonMay 10, 2024
Final Answer :
D
Explanation :
Notes collected by the bank are added to the balance per books on a bank reconciliation because they increase the company's account balance when the bank collects payments or notes receivable on behalf of the company.
Learning Objectives
- Evaluate the constituents of bank reconciliation to synchronize the figures of book and bank balances.
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