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:

Equilibrium

A state in which opposing forces or influences are balanced, often used in chemistry to describe reactions where reactants and products are formed at the same rate.

Products

Substances formed as a result of a chemical reaction, appearing on the right side of a chemical equation.

Reactants

Substances that undergo chemical changes in a reaction, transforming into products.

Equilibrium

A state in a chemical reaction where the rates of the forward reaction and reverse reaction are equal, leading to no net change in the concentration of reactants and products.