Number correctly the five steps to be used in balancing a bank statement.

Subtract from your record book any charges not yet recorded.

Locate and add the amounts of outstanding checks.

Compare the totals of your record and the bank statement.

Subtract outstanding check total from bank's ending balance.

Add to bank's record any deposits not yet credited.

Question

Mathematics

Tabitha Richard

17 February, 02:34

Number correctly the five steps to be used in balancing a bank statement.

Subtract from your record book any charges not yet recorded.

Locate and add the amounts of outstanding checks.

Compare the totals of your record and the bank statement.

Subtract outstanding check total from bank's ending balance.

Add to bank's record any deposits not yet credited.

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Answers (1)

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Tristan Ramos · Answer 1

The correct number of steps for balancing a bank statement is sentence 3, sentence 5, sentence 4, sentence 1, and then sentence 2.

The most important step in the bank reconciliation process is the record's balance and the bank statement's balance comparison. This step should be done first to find the difference amount between the balances. The sentence 2 step is an additional step if there are several numbers of check still outstanding for a long time.