The accountant for a local manufacturing company is reconciling the company’s bank account for May. For each item listed, state how it would be handled on a bank reconciliation. (Choices may be used more than once.)
-Check written on the company's account in May and paid by the bank is returned with the bank statement
A)Addition to bank balance
B)Subtraction from bank balance
C)Addition to company balance
D)Subtraction from company balance
E)Not included on the reconciliation

Question

Quizplus · Accepted Answer

The check written and paid by the bank is already accounted for in the bank statement, so it does not need to be included in the reconciliation process.

The Accountant for a Local Manufacturing Company Is Reconciling the Company’s