Match each bank reconciliation item on the left to its correct accounting treatment on the right when preparing an Adjusted Cash Book.
- Customer's direct transfer into the firm's bank accountDebited to the Adjusted Cash Book to record customer payment
- Unrecorded bank service charges deducted by the bankCredited to the Adjusted Cash Book to record bank charges
- Cheques issued to creditors but not yet presented at the bankShown in the Bank Reconciliation Statement as a timing difference
- Standing order payment for monthly insurance premiumCredited to the Adjusted Cash Book to record automated regular payment
Cevap
Customer's direct transfer matches being debited to the Adjusted Cash Book to record customer payment; Unrecorded bank service charges matches being credited to the Adjusted Cash Book to record bank charges; Cheques issued but not yet presented matches being shown in the Bank Reconciliation Statement as a timing difference; Standing order payment matches being credited to the Adjusted Cash Book to record automated regular payment.
Items omitted from the cash book but processed by the bank must be entered into the Adjusted Cash Book. Direct receipts are debited, while unrecorded payments (bank charges, standing orders) are credited. Timing differences such as unpresented cheques are already in the cash book and are handled in the Bank Reconciliation Statement.
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Anahtar Kavram
Classification of Bank Reconciliation Items into Adjusted Cash Book vs. Bank Reconciliation Statement