Question

Number each of the following steps from 1 to 7 to identify the steps needed to reconcile a bank statement.

Check to be sure that all deposits included in your record book are included and service charges are subtracted.

1. Make a list of outstanding checks, with the amounts for which they were written.
2. The statement should agree with your check register.
3. Arrange all of the canceled checks in numerical order.
4. Subtract the outstanding checks from the ending balance.
5. After checking for service charges, check the bank statement for other charges.
6. On the bank statement, find the amount the bank has credited you. It is called "ending balance."
7. Check to be sure that all deposits included in your record book are included and service charges are subtracted.

Answer 1

1 - Arrange all of the canceled checks in numerical order

2 - Make a list of outstanding checks, with the amounts for which they were written

3 - On the bank statement, find the amount the bank has credited you. It is called "ending balance."

4 -Subtract the outstanding checks from the ending balance.

5 - Check to be sure that all deposits included in your record book are included and service charges are subtracted.

6 - After checking for service charges, check the bank statement for other charges.

7 - The statement should agree with your check register

Step-by-step explanation:

The chronological order is:

1 - Arrange all of the canceled checks in numerical order

2 - Make a list of outstanding checks, with the amounts for which they were written

3 - On the bank statement, find the amount the bank has credited you. It is called "ending balance."

4 -Subtract the outstanding checks from the ending balance.

5 - Check to be sure that all deposits included in your record book are included and service charges are subtracted.

6 - After checking for service charges, check the bank statement for other charges.

7 - The statement should agree with your check register