The bank statement lists a $700 deposit as $70. On a bank reconciliation, the correction will appear as a(n):
A)addition to the bank balance.
B)deduction from the book balance.
C)addition to the book balance.
D)deduction from the bank balance.

Question

Quizplus · Accepted Answer

The correction will appear as an addition to the bank balance because the bank has recorded less money ($70) than what was actually deposited ($700), so the bank balance needs to be increased to reflect the correct amount.

The Bank Statement Lists a $700 Deposit as $70