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Outstanding Checks, Deposits in Transit, Deductions for Bank Fees, Additions

question 212

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Outstanding checks, deposits in transit, deductions for bank fees, additions for interest, and errors are all factors that can cause the bank statement balance for a checking account to be different from the company's checking account balance.


Definitions:

After-Tax Net Income

The amount of profit remaining after all taxes have been deducted from total revenue.

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