
Bank Reconciliation 3- identification
Quiz by JEAN OBAR
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What is the meaning of NSF ?
A loan statement should be
NSF checksÂ
A cash receipt but not appeared in the Bank Statement.
Credit memo for Rent revenue.
outstanding check
Check received BD100 from jamal (Accounts Receivable) recorded in the business records as BD100.
Check paid for Advertising expenses for BD590 recorded in the business book as BD950.
Another term used for deposit in transit.
A bank overdraft is shown by a _____.
Bank service charge
Bank inadvertently charged your bank account for another company's bank fees.
A company wrote a check for $76 and it cleared the bank for $76. However, the company recorded the check in its Cash account as $67. how is the difference of $9handled on the bank reconciliation?
Â
Deposit in transit
Interest credited to bank account
if an account is showing a bank overdraft then the procedure for preparing the reconciliation statement should be the opposite to when the account is showing a balance.