Which of the following procedures is not part of the preparation of a bank reconciliation for a checking account?
A)Comparing deposits listed on the bank statement to the cash account to identify deposits in transit
B)Comparing canceled checks returned with the bank statement to the cash account to identify outstanding checks
C)Looking for bank services charges and other items on the bank statement that have not yet been included in the cash account.
D)Reversing all the transactions recorded on the company's records that do not yet appear on the bank statement.

Question

Quizplus · Accepted Answer

Reversing all the transactions recorded on the company's records that do not yet appear on the bank statement is not a part of the preparation of a bank reconciliation. The other options, such as comparing deposits and canceled checks, and looking for bank service charges, are all integral steps in reconciling a checking account.

Which of the Following Procedures Is Not Part of the Preparation