In bank reconciliation all the following transactions usually appear in company records except one:

1. Service charge. 2. Deposit in transit. 3. Check outstanding.

Question added by Almutaz Bakry Sidahmed , Internal Audit Manager , Banan real estate
Date Posted: 2014/10/11

Upvote (1) Views (6) Followers (3) Answers (3) Report Question

by Khaled Abdelrehim ACCA DipIFR CMA , Financial Analysis Assistant General Manager , Khalda Petroleum Company

1. Service charge.

by Muhammad Ramzan Tufail ACCA , Assistant Finance Manager , Eltizam Asset Management Group

(1) is the Correct Ans.

Service Charge

Upvote (1)

by Muhammad Faisal Mukaty , Manager Accounts and Audit , Digicom Trading (Pvt) Ltd., Q Mobile

Deposit in Transit

Mention what are the things that will not be included in bank reconciliation statement?
Top Answer: Direct payments made by bank not entered in Cash book Cheques deposited but not cleared Cheques dishonour ... See More

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When are we using journal entries on bank reconciliation?
Top Answer: For adjusting entries we pass the journal entries in BR, eg:- Bank service charge for maintaining the acc ... See More

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In preparing a bank reconciliation, a service charge shown on the bank statement should be ?
Top Answer: Because the bank service charges have already been deducted on the bank statement, there is no a ... See More

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A company recorded its August 15 receipts on its books as $165. However, the receipts were actually $156.
Top Answer: Well The company added $165 to its accounting records when it should have added only $156. In other words ... See More

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