Bank Fees for Check Printing Are Recorded by the Bank

question 122

Multiple Choice

Bank fees for check printing are recorded by the bank as:

• A)An increase in the bank's asset account.
• B)A decrease in the bank's asset account.
• C)A decrease in the depositor's bank account.
• D)An increase in the depositor's bank account.
• E)An increase in the bank's expense account.

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Definitions:

Accountant

A professional who manages, audits, and analyzes financial records and transactions for individuals, businesses, and organizations.

Ledger

A-book or digital record that summarizes and categorizes all financial transactions of a business during an accounting period.

Normal Debit Balance

The expected balance type of an account based on conventional accounting rules; assets and expenses usually have a normal debit balance.

Company's Records

Documentation and books kept by a company containing important information such as financial transactions, contracts, and employee records.