Question

(List in the correct order)

Edward is reconciling his bank statement and personal account register. What are the steps that he should follow?


1. check for bank charges and adjust the personal

account register accordingly


2. check off all the payments made in his personal

account register and the bank statement


3. flag any suspicious looking charges or entries


4. check for the final amount; it should be equal

in the personal account register and the

bank statement


5. cross check all entries like deposits not credited

and checks not presented for payment and

adjust accordingly

Answer 1

1. check off all the payments made in his personal account register and the bank statement

2. check for bank charges and adjust the personal account register accordingly

3. cross check all entries like deposits not credited and checks not presented for payment and adjust accordingly

4. flag any suspicious looking charges or entries

5. check for the final amount; it should be equal in the personal account register and the bank statement

Step-by-step explanation:

correct on plato

Answer 2

The correct order is as follows :

1. check for the final amount; it should be equal in the personal account register and the bank statement.

2. cross check all entries like deposits not credited and checks not presented for payment and adjust accordingly.

3. check off all the payments made in his personal account register and the bank statement.

4. check for bank charges and adjust the personal account register accordingly.

5. flag any suspicious looking charges or entries

Step-by-step explanation:

A comparison of balances and entries in personal account register and the bank statement should be made accordingly during the reconciliation.