Which of the following would be deducted from the balance per books on a bank reconciliation?
A)Notes collected by the bank
B)Deposits in transit
C)Service charges
D)Outstanding checks

Question

Quizplus · Accepted Answer

Service charges are fees charged by the bank for services such as processing checks and maintaining the account. These charges reduce the balance per books and need to be deducted from it on a bank reconciliation. 
Answer: D 
 Outstanding checks are checks written by the company but have not yet cleared the bank. The amount of these checks needs to be deducted from the balance per books on a bank reconciliation to reconcile the account. Notes collected by the bank and deposits in transit would be added to the balance per books.

Which of the Following Would Be Deducted from the Balance