Bank Reconciliation Flashcards
(16 cards)
1
Q
Outstanding cheque
A
- Bank Balance
- Negative
2
Q
Bank deposit in transit
A
- Bank Balance
- Positive
3
Q
Bank error
A
- Bank Balance
- Positive or negative
4
Q
NSF cheque
A
- Book balance
- Negative
5
Q
Interest earned
A
- Book Balance
- Positive
6
Q
Error in our books
A
- Book Balance
- Positive or negative
7
Q
Receivable directly collected by the bank
A
- Book balance
- Positive
8
Q
Bank Balance evidence
A
Bank Confirmation
9
Q
Outstanding cheque evidence (3)
A
- Next month bank statement
- Copy of cheque
- Cash disbursement journal
10
Q
Bank deposit in transit evidence (2)
A
- Next month bank statement
- Cash receipt journal
11
Q
Bank error evidence (3)
A
- Bank statement
- Cash receipt/disbursement
- Correction notice by the bank
12
Q
Book balance evidence
A
GL
13
Q
Interest earned evidence (3)
A
- Bank statement
- GL
- Amortization schedule
14
Q
Error in our books evidence (3)
A
- Bank statement
- copy of cheque (if error is a cheque)
- Journal entry
15
Q
Receivable directly collected by the bank evidence (3)
A
- Bank statement
- Copy of payment received
- Bank credit memo
16
Q
NSF cheque (3)
A
- Bank statement
- Copy of cheque
- Note of the bank
