When preparing a bank reconciliation, which of the following items should be subtracted from the bank balance?
A)Deposits in transit
B)Bank service charges
C)EFT cash receipts
D)Outstanding checks

Question

Quizplus · Accepted Answer

Outstanding checks should be subtracted from the bank balance because they represent checks that have been issued by the company but have not yet been cleared by the bank, thus reducing the actual available balance.

When Preparing a Bank Reconciliation, Which of the Following Items