Bank Reconciliation

Bank Reconciliation

Assessment

Assessment

Created by

Melissa MillsParkMS

Life Skills

7th Grade

24 plays

Hard

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10 questions

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1.

Multiple Choice

30 sec

1 pt

A bank statement

allows a depositor know the financial position of the bank as of a certain date.

is a credit reference letter written by the depositor's bank.

is a bill from the bank for services rendered.

shows the activity which increased or decreased the depositor's account balance.

2.

Multiple Choice

30 sec

1 pt

A check returned by the bank marked "NSF" means

not satisfactorily filled-out.

not sufficient funds.

no signature found.

no service fee.

3.

Multiple Choice

30 sec

1 pt

In preparing its bank reconciliation for the month of April 2020, Leno, Inc. has available the following information.

Balance per bank statement, 4/30/20 $76,800

NSF check returned with 4/30/20 bank statement 940

Deposits in transit, 4/30/20 9,000

Outstanding checks, 4/30/20 9,300

Bank service charges for April 60

What should be the adjusted cash balance at April 30, 2020?

$75,100.

$75,800.

$75,920.

$76,500.

4.

Multiple Choice

30 sec

1 pt

The cash account shows a balance of $85,000 before reconciliation. The bank statement does not include a deposit of $5,000 made on the last day of the month. The bank statement shows a collection by the bank of $2,400 and a customer’s check for $680 was returned because it was NSF. A customer’s check for $900 was recorded on the books as $1,080, and a check written for $138 was recorded as $183. The correct balance in the cash account was

$86,540.

$86,585.

$87,400.

$95,350.

5.

Multiple Choice

30 sec

1 pt

The cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made on the last day of the month. The bank statement shows a collection by the bank of $4,960 and a customer’s check for $1,100 was returned because it was NSF. A customer’s check for $1,380 was recorded on the books as $1,830, and a check written for $318 was recorded as $381. The correct balance in the cash account was

$45,347.

$45,473.

$46,573.

$54,673

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