WorksheetsACCTG 26 Cash and Cash Equivalents, Bank Reconciliation
Total questions: 15
Worksheet time: 11mins
A bank service charge of P 25.
Deduct it from the bank statement balance
Add it to the bank statement balance
Exclude it from the reconciliation
Add it to the checkbook balance
Deduct from the checkbook value.
The credit of P 275 on the bank statement for semiannual interest collected by the bank for the company on pledged bonds.
Deduct it from the bank statement balance
Add it to the bank statement balance
Exclude it from the reconciliation
Add it to the checkbook balance
Deduct from the checkbook value.
The charge of P 122 for “NSF” check
Deduct it from the bank statement balance
Add it to the bank statement balance
Exclude it from the reconciliation
Add it to the checkbook balance
Deduct from the checkbook value.
The checks outstanding as of June 31, totaling P 5,020
Deduct it from the bank statement balance
Add it to the bank statement balance
Exclude it from the reconciliation
Add it to the checkbook balance
Deduct from the checkbook value.
The P 625 deposit not shown in the bank statement.
Deduct it from the bank statement balance
Add it to the bank statement balance
Exclude it from the reconciliation
Add it to the checkbook balance
Deduct from the checkbook value.
The P 4,500 proceeds of a bank loan(reflected on both the books and the bank statement
Deduct it from the bank statement balance
Add it to the bank statement balance
Exclude it from the reconciliation
Add it to the checkbook balance
Deduct from the checkbook value.
Customer’s check returned by bank marked NSF.
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
Proceeds from a customer’s note, principal amount P 900 collected by bank collection fee of P 6 charged by bank
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
Check No. 121 had been entered in the accounts as P 2,230 but was deducted on the bank statement in the correct amount of P 2,320.
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
The current bank statement shows a deduction of P 8.00 for a new checkbook
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
A check book of an unauthorized person had been deducted from the account by the bank in error.
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
Deposit of May 29 not recorded by the bank until June 2
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
Outstanding checks totaled P 8,600
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
A check for P 161 written by TC Corporation had been deducted on the bank statement of ETC Corporation
Addition to cash balance per cash account
Addition to cash balance per bank statement
Deduction from cash balance per cash account
Deduction from cash balance per bank statement
Does not affect the reconciliation of cash balances
Which of the following items should not be recorded in the cash account?
Money Orders
Certificates of Deposits
Postage Stamps
Ordinary checks
