Asked by Devin Usher on Jul 13, 2024
Verified
On a bank reconciliation,a bank fee for check printing not yet recorded by the company is:
A) Noted as a memorandum only.
B) Added to the book balance of cash.
C) Deducted from the book balance of cash.
D) Added to the bank balance of cash.
E) Deducted from the bank balance of cash.
Bank Fee
A charge by a bank for the maintenance of accounts, processing transactions, or for providing specialized services.
Check Printing
The process of writing and creating checks from a bank account for payment purposes.
Cash Balance
The amount of cash on hand at a given time, reflecting the liquidity position of an entity, as recorded in the financial statements.
- Separate the various adjustments needed to conduct a proper bank reconciliation.
Verified Answer
TZ
Thalia ZunigaJul 13, 2024
Final Answer :
C
Explanation :
A bank fee for check printing not yet recorded by the company should be deducted from the book balance of cash because it reduces the amount of cash the company actually has, but has not yet recorded in their records.
Learning Objectives
- Separate the various adjustments needed to conduct a proper bank reconciliation.