Answered

When preparing a bank reconciliation statement, if you start with the debit balance as per the cash book, cheques sent to the bank but not collected should be:

A. Added
B. Deducted
C. Not required to be adjusted
D. None



Answer :

GinnyAnswer

Final answer:

In bank reconciliation, undeposited checks are added to the bank balance to match the cash book balance.


Explanation:

When preparing a bank reconciliation statement, if you start with a debit balance as per the cash book, cheques sent to the bank but not collected should be:

  1. Added
  2. Deducted
  3. Not required to be adjusted
  4. None

For example, if a company records a cheque payment in its cash book but the cheque has not yet been presented to the bank for clearance, the amount needs to be added to the bank balance when preparing the reconciliation statement.


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