Match the items with the actions necessary to reconcile the bank statement.

(There's Not Just One Answer)

1. interest credited in bank account

2. fee charged by bank for returned check

3. checks issued but not deposited

4. deposits yet to be credited

A. add to bank statement

B. deduct from bank statement

C. add to personal statement

D. deduct from personal statement

1. interest credited in bank account - - add to personal

2. fee charged by bank for returned check - - deduct from personal

3. checks issued but not deposited - - deduct from bank

4. deposits yet to be credited - - add to bank

The correct answers are:

1. interest credited in bank account - - add to personal

2. fee charged by bank for returned check - - deduct from personal

3. checks issued but not deposited - - deduct from bank

4. deposits yet to be credited - - add to bank

Explanation:

1.

As they are a credit to the holder, i. e. they add to his bank account, this item is added, i. e. it is added to him by the amount of interest credited.

2.

As the bank is an intermediary payment institution, it adds to its policies the collection of commissions for returned checks, as well as charges you commissions for account maintenance.

3.

When we issue checks and these are not deposited, it often happens that we in our accounting have a lower amount than the bank statement, therefore we have to deduct those values from the statement, as they will surely be deposited later.

4.

When a bank deposit is made this late a time to be accounted in the bank statement, therefore, until this happens we have to add it up as it is a matter of time for it to reflect

Have a nice day!