A Business Is Reconciling Its Bank Accounts

Essay

A business is reconciling its bank accounts. Indicate whether each of the following items would be added to (+), subtracted from (-), or have no effect on (0) the business' cash balance and the bank balance in determining the reconciled cash balance.
$$\begin{array} { | l | c | c | } \hline & \begin{array} { c } \text { Business } \\\text { Cash Balance }\end{array} & \begin{array} { c } \text { Bank } \\\text { Balance }\end{array} \\\hline \text { Deposits in transit } & & \\\hline \text { Charges made directly by the bank } & & \\\hline \text { The business' over-recording of a cheque that it wrote } & & \\\hline \text { Outstanding cheques } & & \\\hline \text { Deposits made directly by the bank } & & \\\hline \text { The bank's over-recording of a deposit } & & \\\hline\end{array}$$