Bank Reconciliation

Assessment
•
Melissa MillsParkMS
•
Life Skills
•
7th Grade
•
24 plays
•
Hard
Student preview

10 questions
Show answers
1.
Multiple Choice
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
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
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
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
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
Explore all questions with a free account
Find a similar activity
Create activity tailored to your needs using
Rodgers Study Skills Banking Vocabulary

•
5th - 8th Grade
Banking Vocabulary

•
6th - 8th Grade
Banking Accounts and Services

•
7th - 12th Grade
lesson 6 quiz: banking services

•
7th Grade
Personal Finance Vocab week #2

•
1st - 10th Grade
Financial Literacy

•
6th - 12th Grade
6-1 Risk Assessment and Strategies Vocabulary

•
6th - 12th Grade
Bank Account 4

•
6th - 11th Grade