Question

Lynette received her bank statement and she is now comparing it with the transactions that you locked in with her checkbook register after calculating the transactions in the statement and the checkbook register and she realize that the trench that the statement showed more balance in her checkbook register what could be the reason behind this discrepancy

Answer 1

Well, this difference can result from the outstanding checks and the electronic charges on the bank statement.

Step-by-step explanation

When handling bank statements and transactions, it is common to notice that some items in the check book that are yet to reflect on the bank statement, for example outstanding checks and deposits on transit. These are the adjustments to the balance statement. Other charges such as banking service charges and statement printing charges may not appear recorded in the check book so they have to be deducted from the total cash balance in the check books.