In the normal operation of business, you receive a check from a customer and deposit it into your checking account. With your bank statement, you are advised that this check for $775 is "NSF.". The bank also informs you that due to the amount of activity on your business account the monthly service charge is $75 . During a bank reconciliation, you will
a. subtract both values from balance according to bank
b. add both values to balance according to books
c. add both values to balance according to bank
d. subtract both values from balance according to books
d
You might also like to view...
A new subdivision requires payment of homeowners association dues. If unpaid, what type of lien do they create?
A. General lien applying to all property owned by the homeowner B. Involuntary lien that does not pass to the next buyer of the property C. Personal debt that is not secured by real property D. Specific lien that encumbers the property
A firm with a gross profit margin which meets industry standard and a net profit margin which is below industry standard must have excessive ________
A) general and administrative expenses B) cost of goods sold C) dividend payments D) principal payments