Bank Recon

These are checks already issued for payments by the company but not yet presented by the payee to the bank for payment.

• outstanding check

• NSF check

• deposit in transit

• not given

A_____________________ is a copy of the bank's customer's account in the books of the bank.

• Cash Book

• Bank Reconciliation Statement

• Bank Statement

A bank reconciliation statement is prepared by?

• Banker

• Accountant of the business

• Auditors

• Registrars

If the Bank Statement balance does not agree with the bank balance of the Cash Book, then _________.

• the Cash Book should be regarded as the correct record of transactions

• the Bank Statement should be regarded as the correct record of transactions

• a Bank Reconciliation Statement should be prepared

• the difference could be either a current asset or current liability

Bank Reconciliation Statement is prepared to reconcile

• the balance of cash column and bank column of cash book

• the balance of bank column of cash book and the balance in pass book

• the balance of pass book with Profit and Loss account of the firm

• the balance of cash book with Profit and Loss account of the firm

The bank gives interest to the account at the end of the month. What will be the action for this?

• add to the bank

• deduct from the bank balance

• deduct from book balance

• add to book balance

A bank reconciliation statement is

• Part of the cash book

• Part of Bank account

• Part of financial statement

• None of the above

A cash deposit made by business appears on the bank statement as _______ balance.

• Debit

• Credit

• Expenses

• Liabilities

If the final balance of the bank statement is credit, it indicates that the business owes the bank money.

• True

• False

The total of the Cash at Bank column is:

• $8750

• $8100

• $16100

• $4000

• None of the above