All the following are steps included in the preparation of the bank reconciliation except:
A)Comparing deposits listed on the bank statement with the deposits shown in the accounting records.
B)Comparing checks listed on the bank statement with corresponding entries in the accounting records.
C)Deducting any debit memoranda from the balance on the bank statement.
D)Preparing journal entries for any adjustments to the depositor's records.

Question

Quizplus · Accepted Answer

All other steps (A, B, and D) are included in the preparation of the bank reconciliation. Deducting any debit memoranda from the balance on the bank statement is not a step in the process; instead, it is a factor that affects the balance on the bank statement that needs to be taken into account in the reconciliation process.

All the Following Are Steps Included in the Preparation of the Bank