Practice Step 2: Add Unrecorded Transactions - 3.3.2 | 3. Bank Reconciliation Statement | ICSE Class 11 Accountancy
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3.3.2 - Step 2: Add Unrecorded Transactions

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What are deposits in transit?

💡 Hint: Think about deposits that haven't shown up in your account yet.

Question 2

Easy

Why is it important to add bank interest during reconciliation?

💡 Hint: Consider any additional money earned from the bank.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is a deposit in transit?

  • A deposit not yet recorded by the company.
  • A deposit recorded by the bank.
  • A deposit made by a customer.

💡 Hint: Think about what happens after you deposit money.

Question 2

True or False: Bank interest should be included in the cash book.

  • True
  • False

💡 Hint: Consider how banks reward your deposits.

Solve 1 more question and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company checks its bank statement and finds that it shows a balance of $20,000. However, the cash book drafted previously shows $18,500. After reviewing, the following were found: deposits in transit of $1,500, outstanding checks of $1,000, and $250 in bank interest missing from the cash book. Calculate the adjusted cash book balance.

💡 Hint: Break down the adjustments into positive and negative adds.

Question 2

Consider a scenario where a company received various checks totaling $3,000 that were not recorded yet by the bank, but mistakenly deducted $200 in bank fees. If the company's cash book shows $12,000, calculate the new cash book balance considering the transactions.

💡 Hint: Adjust for fees as negative and add deposits as positive.

Challenge and get performance evaluation