Which of the following adjusts the bank's balance of cash in a bank reconciliation? (More than one may be correct.) Multiple correct question An error by the company Deposits in Transit Checks Outstanding Service fees NSF checks
Which of the following adjusts the bank's balance of cash in a bank reconciliation? (More than one may be correct.)
Multiple correct question
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>Bank reconciliation statement, is a statement prepared on a particular date, to reconcile the difference between: |
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--Cash balance in the books of account of an entity, and |
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--Cash balance in the bank account account as per bank record. |
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>There can be various instances which could lead to the difference between the two above mentioned balance. |
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>For example, charges deducted by the bank will: |
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--decrease the cash balance in the bank account in bank record, BUT |
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--the cash balance in accounts' book will not be affected, |
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leading to a difference between the two balances. |
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