Ask Question
3 July, 11:22

When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the statement from the bank, which action is it appropriate for the person to take first?

+5
Answers (1)
  1. 3 July, 11:50
    0
    Cash Book Adjustment

    Explanation:

    When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the statement from the bank, the action that is appropriate for the person to take first is to adjust the cash book balance.

    Adjustment of cashbook is done by updating the cash book with all the entries in the bank statement that is not captured in the cash book. This includes the bank charges and standing orders. When this has been done then comparison becomes easier between the bank statement and the cash book checking account.

    The other procedure will be to add unpresented checks and less uncredited checks
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “When a person is reconciling a checking account and notices that the balance in the checkbook does not match the balance on the statement ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers