The correct order to reconcile a monthly bank statement is:
- 1. Identify the bank statment balance then add any deposits in transit and subtract any outstanding checks.
- 2. Compute the adjusted bank balance.
- 3. Identify the company's book balance.
- 4. Add any unrecorded credit memoranda from the bank, interest earned, and errors understating the book balance.
- 5. Identify and list any unrecorded debit memoranda form the bank, service charges, and errors overstating the book balance.
- 6. Compute the adjusted book balance and compare it to the adjusted bank balace to verify equality.
<h3>What is a Bank Statement?</h3>
This refers to the financial record that contains the transactions in a bank account over a period of time.
Hence, we can see that a business owner must follow different steps when preparing a monthly bank reconciliation and they are shown above.
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Answer:
B. is entitled to receive the same treatment and ability as everyone else
Answer:
the answer is phase change
Well think about it... 12 rolls is already out since they are asking about 16 rolls. 320 divided by 16 is 20. So, the service bought 20 cases of paper towels containing 16 rolls.
