Determine which of the items below would appear in the Deposits and Credits column of a bank statement and would cause an increase in the account's balance. (Check all that apply.)

A. Checks written by the account owner

B. A note collected by the bank on behalf of the account owner

C. Deposits made during the month Interest paid by the bank on the bank account balance

D. A returned NSF customer check

Question

Dax Tanner

Business

15 February, 21:58

Determine which of the items below would appear in the Deposits and Credits column of a bank statement and would cause an increase in the account's balance. (Check all that apply.)

A. Checks written by the account owner

B. A note collected by the bank on behalf of the account owner

C. Deposits made during the month Interest paid by the bank on the bank account balance

D. A returned NSF customer check

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Answers (1)

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Sanai Jarvis · Answer 1

B. A note collected by the bank on behalf of the account owner

C. Deposits made during the month

Interest paid by the bank on the bank account balance

Explanation:

The transactions that increase your bank statement are:

the deposits that you make: if you are reconciling your bank statement you must include deposits in transit. any notes collected by the bank on your behalf: sometimes banks do not notify the account owner immediately about notes that they collect, but they are included in the bank statement. interest paid on the account balance: depending on the type of account and the bank, the bank can pay interests on your money.

The checks you write and the NSF checks you deposited reduce your bank statement, they do not increase it.