Question

If a check correctly written and paid by the bank for $413 is incorrectly recorded in the company's books for $431, how should this error be treated on the bank reconciliation? Multiple Choice Subtract $18 from the bank's balance. Add $18 to the book balance. Add $18 to the bank's balance. Subtract $18 from the bank's balance and add $45 to the book's balance. Subtract $18 from the book balance.

Answer 1

Answer ansiner d. option "D" is correct substract $ 18 from book balance because ERROR Amount = $ 4-31 - $ 4-13 BooK balance incorrectly already increase at $431, to make it correct or to reconcile 1+ with statement we will deduct book balance. bank $18 from 2: answer option is correct Deduct the check amount bank balance because check has been issued by company but not processed bank P+ will be deducted. so by the 3 answer correct ² option Credit to cash to 1320, because Journal Entry $ 66 $219 Merchaodise Inventory Detivery expense nis. Expense cash $ 35 $320