mrs. joness checkbook register:\ndate num payee payment clr deposit balance\n1/1/2010 balance forward…

mrs. joness checkbook register:\ndate num payee payment clr deposit balance\n1/1/2010 balance forward 2,340.00 2,340.00\n1/5/2010 debit xyz supermarket 145.44 2194.56\n2/1/2010 1014 rent 600.00 1594.56\n2/1/2010 1015 bis insurance company 320.40 1274.16\nconsider what must be done, if anything, in order to finish the reconciliation process.\na. line 6 is $10.00 higher than line 5; look back at the statement to find the discrepancy.\nb. any transaction that appears on the register must still be added to the bank statement.\nc. add lines 5 and 6 together.\nd. the rent of $600 is in your checkbook but not on your bank statement.

mrs. joness checkbook register:\ndate num payee payment clr deposit balance\n1/1/2010 balance forward 2,340.00 2,340.00\n1/5/2010 debit xyz supermarket 145.44 2194.56\n2/1/2010 1014 rent 600.00 1594.56\n2/1/2010 1015 bis insurance company 320.40 1274.16\nconsider what must be done, if anything, in order to finish the reconciliation process.\na. line 6 is $10.00 higher than line 5; look back at the statement to find the discrepancy.\nb. any transaction that appears on the register must still be added to the bank statement.\nc. add lines 5 and 6 together.\nd. the rent of $600 is in your checkbook but not on your bank statement.

Answer

Explanation:

Step1: Understand bank - statement reconciliation

In bank - statement reconciliation, we need to match transactions in the checkbook register with those on the bank statement. Transactions in the register that are not on the bank statement need to be accounted for.

Step2: Analyze each option

  • Option a: There is no mention of line 5 and line 6 in the given register, so this option is not relevant.
  • Option b: Transactions in the register should be matched, not added to the bank statement. The bank statement has its own set of transactions, and we are reconciling to find differences.
  • Option c: There is no reason to add lines 5 and 6 as there is no information about such lines in the register and no context for this action in reconciliation.
  • Option d: When reconciling, we need to account for transactions in the checkbook that are not on the bank statement. The rent of $600 in the checkbook but not on the bank statement is a key item in the reconciliation process.

Answer:

d. The rent of $600 is in your checkbook but not on your bank statement.