While Reconciling the Checking Account,an Accountant with Sonic Corporation Noticed

question 66

Multiple Choice

While reconciling the checking account,an accountant with Sonic Corporation noticed that an error had been made in recording a check received by the company.Sonic recorded the receipt as $729,and the correct amount of the check was $279.Which of the following reconciling adjustments is required?

• A)Add $450 to the company's book balance
• B)Deduct $450 from the company's book balance
• C)Add $450 to the bank statement balance
• D)Deduct $450 from the bank statement balance

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Definitions:

Private Property

Land or belongings owned by an individual or group that has the legal right to exclude others from its use or benefits.

Theoretical Statement

A proposition or idea that forms part of a theoretical framework, intended to explain a phenomenon or predict future observations.

Facts

Statements that can be proven to be true or existent through evidence or demonstration.

Events

are occurrences or activities that take place at a specific time and place, often involving participation or observation by people.