indicate whether the following items in a bank reconciliation should be: A)Added to the check book blance B) DEDUCTED FROM THE CHECKBOOK C)added to the bank statement balance D) deducted from the bank statement balance 1) outstanding deposit of 1,200 is a,b,c,or,d. i think b or d. 2)an nsf check from customer anne campbell for 52 dollars. i think its c,if wrong please correct. 3)an outstanding check for $185 wriiten to cole relity. i think its a. 4)the monthly service charge $15 . i think its d. 5) a bank error charging the firms account with another companys check.i think its d or b. please correct if im wrong by putting the right multiple choice thank you so much i apprecite the help.

1. Think again. You have received money = a, c It is a positive thing for y ou.

2. This is a negative thing for you. nsf = non sufficient funds; in other words the check is no good. b & d

3. You wrote the check but apparently it has not been cashed. d

4. This is a fee you must pay the bank for handling your account. b (you probably will write them a check) & d (they may just debit your account.

5. Actually the bank did d when they should not have. Once the bank realizes the mistake, it will be both a and c.

Once you have your own account, you will understand much better!

Sra

P.S.

1. A deposit will be on your bank statement (c).

2. The bank will know when it is nsf so they will not even have it on the bank statement. If you had entered it in your checkbook, YOU will have to deduct it (b).

5. The bank will have to do (c) to return the funds to y ou.

Sra

1) An outstanding deposit of $1,200 should be added to the bank statement balance (C).

2) An NSF check from customer Anne Campbell for $52 should be deducted from the checkbook balance (B).
3) An outstanding check for $185 written to Cole Realty should be deducted from the checkbook balance (B).
4) The monthly service charge of $15 should be deducted from the bank statement balance (D).
5) A bank error charging the firm's account with another company's check should be deducted from the bank statement balance (D).

To determine whether an item should be added or deducted from the checkbook balance or the bank statement balance in a bank reconciliation, consider the following explanations for each option:

A) Adding to the checkbook balance: If an item is not already included in the checkbook balance but should be, it should be added to the checkbook balance.

B) Deducting from the checkbook balance: If an item is already included in the checkbook balance but should be removed, it should be deducted from the checkbook balance.

C) Adding to the bank statement balance: If an item is not already included in the bank statement balance but should be, it should be added to the bank statement balance.

D) Deducting from the bank statement balance: If an item is already included in the bank statement balance but should be removed, it should be deducted from the bank statement balance.

Now, let's apply this information to your specific items:

1) Outstanding deposit of $1,200: This item should be added to the bank statement balance since it is a deposit that has not yet been included.

2) NSF (Non-Sufficient Funds) check from customer Anne Campbell for $52: This item should be deducted from the checkbook balance since it represents a check that bounced and was not successfully deposited.

3) Outstanding check for $185 written to Cole Reality: This item should be deducted from the checkbook balance since it is a check that has been written but has not yet been cashed or processed.

4) Monthly service charge of $15: This item should be deducted from the bank statement balance since it represents a charge by the bank that has not yet been reflected in the checkbook balance.

5) Bank error charging the firm's account with another company's check: This item should be deducted from the bank statement balance since it is an error that has caused the balance to be inflated.

In summary, the correct multiple choice options for each item are:

1) C) Added to the bank statement balance
2) B) Deducted from the checkbook balance
3) B) Deducted from the checkbook balance
4) D) Deducted from the bank statement balance
5) D) Deducted from the bank statement balance