Question

The final total after the bank reconciliation form has been completed is called ______________ ______________ _______________

Answer 1

The final total after completing a bank reconciliation form is known as the adjusted bank balance, which reflects the real cash available in a bank account.

Step-by-step explanation:

The final total after the bank reconciliation form has been completed is called the adjusted bank balance. This number reflects the actual amount of cash available in the bank account after all reconciling items have been accounted for. During a bank reconciliation, you would typically add deposits in transit and subtract outstanding checks from the bank statement balance, and add or subtract any bank errors. The adjusted bank balance helps ensure that the records of the company match the bank's records and that the true cash position is reported on the financial statements.