A check for $342 was erroneously charged by the bank as $432. In order for the bank reconciliation to balance, you must add $90 to the bank statement balance.

Question

Quizplus · Accepted Answer

The error resulted in an overcharge of $90 ($432 - $342 = $90), which means the bank statement balance is $90 too high. To balance the reconciliation, you would need to add that $90 to the bank statement balance.

A Check for $342 Was Erroneously Charged by the Bank