A check written by the company for $272 is incorrectly recorded by a company as $227. On the bank reconciliation, the $45 errorshould beadded to the balance per bank.added to the balance per books.deducted from the balance per bank.deducted from the balance per books.O O O O

The check amount was $272 but deducted from Book Balance $227. Hence, the rest amount of $45 should…

A check written by the company for $272 is incorrectly recorded by a company as $227. On the bank reconciliation, the $45 error should be O added to the balance per bank. O added to the balance per books. O deducted from the balance per bank. O deducted from the balance per books.

A check written by the company for $272 is incorrectly recorded by a company as $227. On the bank reconciliation, the $45 error should be O added to the balance per bank. O added to the balance per books. O deducted from the balance per bank. O deducted from the balance per books.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

Question

A check written by the company for $272 is incorrectly recorded by a company as $227. On the bank reconciliation, the $45 error
should be
added to the balance per bank.
added to the balance per books.
deducted from the balance per bank.
deducted from the balance per books.
O O O O

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