Author Question: Check No. 450, a payment of 54 for the telephone bill, was incorrectly entered on the check stub as ... (Read 101 times)

folubunmi · **on:** Jul 5, 2018

Check No. 450, a payment of 54 for the telephone bill, was incorrectly entered on the check stub as 45 . Which of the following adjustments needs to be made?
a. increase the bank statement balance
b. increase the book balance
c. decrease the bank statement balance
d. decrease the book balance

Question 2

On a bank reconciliation, outstanding checks and NSF checks are deductions from the bank balance.

Indicate whether the statement is true or false