Financial Accounting · Topic 13 quiz

Bank Reconciliation Quiz

Work through 25 multiple-choice questions, one at a time. Submit each answer for feedback. At the end, review your score and see which concepts to revisit.

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1. Outstanding cheque adjusts…
2. Recorded deposit in transit needs…
3. Previously unrecorded fee requires…
4. Compare records at…
5. Bank error should be…
6. Adjusted statement balance from statement, deposit in transit and outstanding cheques? Statement balance: 960. Deposit in transit: 144. Outstanding cheques: 63.
7. Adjusted book cash after an unrecorded bank fee? Book cash: 1080. Bank fee: 156.
8. Adjusted book cash after an unrecorded customer transfer? Book cash: 1200. Customer transfer: 168.
9. Cash understatement when a recorded payment exceeds the actual payment? Recorded payment: 1320. Actual payment: 180.
10. Adjusted bank balance after a deposit in transit? Statement balance: 1440. Deposit in transit: 192.
11. Adjusted statement balance from statement, deposit in transit and outstanding cheques? Statement balance: 1200. Deposit in transit: 168. Outstanding cheques: 70.
12. Adjusted book cash after an unrecorded bank fee? Book cash: 1320. Bank fee: 180.
13. Adjusted book cash after an unrecorded customer transfer? Book cash: 1440. Customer transfer: 192.
14. Cash understatement when a recorded payment exceeds the actual payment? Recorded payment: 1560. Actual payment: 204.
15. Adjusted bank balance after a deposit in transit? Statement balance: 1680. Deposit in transit: 216.
16. Adjusted statement balance from statement, deposit in transit and outstanding cheques? Statement balance: 1440. Deposit in transit: 192. Outstanding cheques: 77.
17. Adjusted book cash after an unrecorded bank fee? Book cash: 1560. Bank fee: 204.
18. Adjusted book cash after an unrecorded customer transfer? Book cash: 1680. Customer transfer: 216.
19. Cash understatement when a recorded payment exceeds the actual payment? Recorded payment: 1800. Actual payment: 228.
20. Adjusted bank balance after a deposit in transit? Statement balance: 1920. Deposit in transit: 240.
21. Adjusted statement balance from statement, deposit in transit and outstanding cheques? Statement balance: 1680. Deposit in transit: 216. Outstanding cheques: 84.
22. Adjusted book cash after an unrecorded bank fee? Book cash: 1800. Bank fee: 228.
23. Adjusted book cash after an unrecorded customer transfer? Book cash: 1920. Customer transfer: 240.
24. Cash understatement when a recorded payment exceeds the actual payment? Recorded payment: 2040. Actual payment: 252.
25. Adjusted bank balance after a deposit in transit? Statement balance: 2160. Deposit in transit: 264.
Show the answer key
  1. Bank statement side The correct choice is Bank statement side.
  2. Timing item review The correct choice is Timing item review.
  3. Book adjustment The correct choice is Book adjustment.
  4. Same date and account The correct choice is Same date and account.
  5. Reported to the bank The correct choice is Reported to the bank.
  6. 1041 Add deposits in transit and subtract outstanding cheques.
  7. 924 The fee reduces book cash.
  8. 1368 An unrecorded collection increases cash.
  9. 1140 Compare the recorded and actual cash outflow.
  10. 1632 Add the deposit to the statement side.
  11. 1298 Add deposits in transit and subtract outstanding cheques.
  12. 1140 The fee reduces book cash.
  13. 1632 An unrecorded collection increases cash.
  14. 1356 Compare the recorded and actual cash outflow.
  15. 1896 Add the deposit to the statement side.
  16. 1555 Add deposits in transit and subtract outstanding cheques.
  17. 1356 The fee reduces book cash.
  18. 1896 An unrecorded collection increases cash.
  19. 1572 Compare the recorded and actual cash outflow.
  20. 2160 Add the deposit to the statement side.
  21. 1812 Add deposits in transit and subtract outstanding cheques.
  22. 1572 The fee reduces book cash.
  23. 2160 An unrecorded collection increases cash.
  24. 1788 Compare the recorded and actual cash outflow.
  25. 2424 Add the deposit to the statement side.