Answered

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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 :

Parrain

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.

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