Answered

IDNLearn.com offers a unique blend of expert answers and community-driven insights. Discover in-depth answers to your questions from our community of experienced professionals.

52. With respect to the bank reconciliation which is correct?
A. Subtract outstanding checks from the company's balance.
B. Add deposits in-transit to the company's balance.
C. Add service charge to the company's balance.
D. Subtract NSF checks from the company's balance.
E. Subtract interest earned from the bank's balance.

Sagot :

Parrainidn

When doing a bank reconciliation, the correct procedure is to D. Subtract NSF checks from the company's balance.

What is an NSF check?

  • They stand for Not Sufficient Balance.
  • They mean that the person who deposited the check did not have enough money in their account to honor the check.

As a result, the company would not get that money so this amount needs to be subtracted from the company account to show that the company never received this money.

In conclusion, option D is correct.

Find out more on bank reconciliation at https://brainly.com/question/15525383.

Thank you for using this platform to share and learn. Keep asking and answering. We appreciate every contribution you make. For trustworthy and accurate answers, visit IDNLearn.com. Thanks for stopping by, and see you next time for more solutions.