Financial AccountingCash Management and Bank Reconciliation-Quiz

1. Your cash book at 31 December 20X3 shows a bank balance of $565 overdrawn. On comparing this with your bank statement at the same date, you discover the following.

1      A cheque for $57 drawn by you on 29 December 20X3 has not yet been presented for payment.
2     A cheque for $92 from a customer, which was paid into the bank on 24 December 20X3, has been dishonoured on 31 December 20X3.

What is the correct bank balance to be shown in the statement of financial position at 31 December 20X3?

2. Cash book is a part of _________ .

3. Bank Reconciliation Statement is prepared by

4. Total Sales are calculated by adding

5. Which of the following item needs to be entered in the Cash Book in order to bring it in line with the entries on the Bank Statement?

6. Which of the following is / are the particular/s of a cash book? (1) Date of transaction (2) Account title (3) Amount

7. Which of the following are recorded in Cash Book?

8. ___________ is the detail of transaction in one’s account provided by the bank.

9. Bank Reconciliation Statement is prepared by

10. Bank Reconciliation Statement is