Question

dentify the factors that cause the bank statement balance to differ from the depositor's book balance by matching each to its definition on the right.outstanding checka check written by the depositor that has not yet been received by the bank for paymentdeposit in transitdeposit made and recorded by the depositor, but not yet recorded on the bank statementnsf checknsf check drop zone chargesservice fees charged by the banka check written by a customer who does not have enough money in his account to cover the checkneed help? review these concept resources.

Answer 1

The factors that cause the bank statement balance to differ from the depositor's book balance include outstanding checks, deposits in transit, NSF checks, and drop zone charges.

Step-by-step explanation:

Differences between bank statement balance and depositor's book balance

1. Outstanding check: A check written by the depositor but not yet received by the bank for payment.
2. Deposit in transit: A deposit made and recorded by the depositor, but not yet recorded on the bank statement.
3. NSF check: A check written by a customer who doesn't have enough money in their account to cover the check.
4. Drop zone charges: Service fees charged by the bank.

The bank statement balance may differ from the depositor's book balance due to the timing of transactions and fees. Outstanding checks and deposits in transit may cause discrepancies between the two balances because they have been recorded by the depositor but not yet reflected on the bank statement. NSF checks and drop zone charges also contribute to the differences as they affect the available balance in the depositor's account.