Bank Reconciliation Quiz

On 7 April 2016, you received the bank statement for March and found that a $12,000 cheque, which was drawn on 10 September 2015 and paid to creditor, had not been presented to the bank.

• Cash Book, Dr Cash Cr Creditor

• Cash Book, Dr Creditor Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

For the month end 31 March 2016,a cheque of $11,500 received on 30 March 2016 was not credit by the bank until 2 April 2016.

• Cash Book item, Dr Cash Cr Debtor

• Cash Book item, Dr Debtor Cr Cash

• Bank Rec. item, Add to the bank balance

• Bank Rec. item, less from cash book bal.

A debtor's cheque of $19,000 dated 20 April 2016 was deposited into the bank. It was returned by the bank but no entry had been made for this in the cash book.

• Cash book, Dr Cash Cr debtor

• Cash book, Dr Debtor Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

A payment of $6,500 by cheque was wrongly recorded on the debit side of the cash book.

• Cash book,

  Dr Cash Cr payment overstated

• Cash book,

  Dr payment understated Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

The Bank Balance at 29 February 2016 of $132,300 (debit) in the cash book was mistakenly carried down as $122,300(debit)

• Cash book

  Dr Cash Cr Opening balance understated

• Cash book

  Dr Opening balance overstated Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

A bank service charge fee of $200 was wrongly debited by the bank as $2,000

• Cash book

  Dr Cash Cr Bank charge

• Cash book

  Dr bank charge Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

A loan interest of $5,000 is charged by the bank but not yet entered in the cash book.

• Cash book

  Dr Cash Cr loan interest

• Cash book

  Dr loan interest Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

A direct credit of $18,600 made by a debtor but not yet entered in the cash book.

• Cash book

  Dr Cash Cr debtor

• Cash book

  Dr debtor Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

An autopay of $1,400 for the electricity bill for the period January-February 2016 is made by bank but not yet entered in the cash book.

• Cash book

  Dr Cash Cr electricity bill

• Cash book

  Dr electricity bill Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.

On 7 April 2016, you received the bank statement for month end of March and found that a $16,400 cheque, which was drawn on 2 March 2016 and paid to creditor, had not been presented to the bank.

• Cash Book, Dr Cash Cr Creditor

• Cash Book, Dr Creditor Cr Cash

• Bank Rec. item, Add to bank balance

• Bank Rec. item, less from cash book bal.