In the Bank reconciliation statement “Deposit in transit” is usually:

Related Mcqs:

A cash deposit made by business appears on the bank statement as _______ balance?

A. Debit B. Credit C. Expenses D. Liability...

Standing orders are ________

A. Credited in the cash book B. Debited in the cash book C. Entered in the bank statement D. Entered in the petty cash balance...

___________ are checks that are issued by the business but not yet presented to bank

A. Uncollected checks B. Uncredited checks C. Outstanding checks D. Bounced checks...

In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.

A. Adjusted B. Unadjusted C. Understated D. Overstated...

Favorable balance of bank statement implies that

A. Credit balance B. Debit balance C. Bank overdraft D. Adjusted balance...