49) A check returned with the bank statement was correctly paid by the bank for

Question

49) A check returned with the bank statement was correctly paid by the bank for $100. This check was recorded on the books for only $10. Which of the following actions is required on the bank reconciliation? AAdd $90 to the.bank balance B. Add $90 to the book balance C. Subtract $90 from the bank balance. D. Subtract $90 from the book balance. 50) In preparing its bank reconciliation for the month of April, the following information was available. Balance per bank statement, 4/30 NSF check returned with 4/30 bank statement Deposits in transit, 4/30 Outstanding checks, 4/30 Bank service charges for April $35,140 450 4,000 5,200 20 What is the correct cash balance on April 30? A. $35,140 B. $34,670 C. $33,940 D. $33,470

Explanation / Answer

49. Check returned correctly entered in bank means bank deducted $100. Depositer need to deduct $100 from his book balance. But he entered only $10. Therefore in Bank reconciliation statement he need to deduct $90 from book balance to arrive at bank balance

Answer D

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