Which of the following items are both reconciling items on the book side of the reconciliation?
A)outstanding cheques and correction of book error
B)deposit in transit and NSF cheque
C)bank service charge and outstanding cheques
D)bank service charge and correction of book error

Question

Quizplus · Accepted Answer

Reconciling items on the book side of a reconciliation include adjustments for items that affect the company's book balance but not the bank's balance. Bank service charges and corrections of book errors are examples of such items, as they are adjustments made in the company's records to reflect accurate cash balances.

Which of the Following Items Are Both Reconciling Items on the Book