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WorksheetsBANK RECONCILIATION QUIZ
Total questions: 20
Worksheet time: 11mins
A cheque is drawn by the business for RM609 for payment of liability was recorded in the journal as RM906. This item would be included in the bank reconciliation as _________.
deduction by the bank
addition by the bank
deduction by the business
addition by the business
The bank reconciliation statement shows a debit balance RM2,470 as per the cash book, unpresented cheques amounting to RM858, and a credit balance of RM1,198 as per the bank statement. What is the amount of the deposits not yet credited?
RM2,810
RM2,130
RM4,526
RM414
If the final balance in the bank statement is RM3900 Cr, unpresented cheques equal RM500 and outstanding deposits total RM900, the final balance in the business's bank account is:
RM4300 Dr
RM4300 Cr
RM3500 Cr
RM3500 Dr
Paid interest RM150 recorded by the bank, adjustment must be recorded as....
cash book +150
cash book -150
bank statement +150
bank statement -150
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
If the final balance in the bank statement is $3500 Dr, unpresented cheques equal $200 and outstanding deposits total $400, the final balance in the business's bank account is:
$3700 Dr
$3700 Cr
$3300 Cr
$3300 Dr
Which of the following is already recorded in the Cash at Bank account but not in the Bank Statement?
Bank charges
Dishonoured cheque
Uncredited cheque
Direct deposit
Items in the cash book which do not appear on the bank statement are usually caused by _______________ differences.
amount
timing
description
Whenever money is deposited by the business, a credit entry in its records corresponds to a debit entry in the bank's records.
True
False
Which of the following is not recorded in the Cash at Bank account but already recorded in the Bank Statement?
Unpresented cheque
Direct debit
Uncredited cheque
what to be recorded for updating cash book? (more than 1 answer)
bank charge
bank interest
bank error
uncredited amount
standing order
In order to perform a bank reconciliation you will need the check register and which of the following?
Bank Statement
Chart of Accounts
Accounts Payable
Accounts Receivable
A positive bank balance will appear as a ______________balance in the cash book.
Debit
Credit
In preparing a bank reconciliation statement, which of the following items will not be included in updating the cash book?
Interest charges
Unpresented cheque
Bank charges
Standing order
Uncredited cheques are
cheques issues by a business but not yet cashed out by creditors.
cheques that are already deposited into a business's bank account but not yet recorded in the bank statement.
bank charges on the services provided by the bank.
instructions given by a business to make regular payments on its behalf to its creditors.
A cheque received from a debtor on 28 April 20x8 was credited into the bank on 30 April 20x8. However, on 7 May 20x8, the bank returned the cheque. This is known as _______.
unpresented cheque
uncredited cheque
dishonoured cheque
unrecorded deposit
Items recorded in the bank account
but yet to be recorded by the bank are as below except for
Uncredited Lodgement / Uncredited Cheques
Bank Services Charges
Unpresented Cheques
1st Process in Preparation of Bank Reconciliation Statement is
The necessary double entry will then be completed, and the balance of the bank account will be carried down.
Items appearing in the bank statement but not in the bank account are transferred to the bank account
Items in the bank statement left unticked would be dealt with in the bank reconciliation statement later.
Matching of entries on the bank statement with those in the bank account by ticking the same items/amount
3rd Process in Preparation of Bank Reconciliation Statement is
The necessary double entry will then be completed, and the balance of the bank account will be carried down.
Items appearing in the bank statement but not in the bank account are transferred to the bank account
Items in the bank statement left unticked would be dealt with in the bank reconciliation statement later.
Matching of entries on the bank statement with those in the bank account by ticking the same items/amount
