While preparing a bank reconciliation, which of the following items would be subtracted from the balance per the company records?
A)outstanding checks
B)deposits in transit
C)bank service charges
D)interest earned on the bank account

Question

Quizplus · Accepted Answer

Bank service charges are expenses charged by the bank for account maintenance or transactions, which are not always immediately recorded in the company's books. Therefore, to reconcile the bank statement with the company's records, these charges need to be subtracted from the balance per the company's records.

While Preparing a Bank Reconciliation, Which of the Following Items