passwella.
Menu

UI Post-UTME Financial Accounting 2025 (Model questions) Question 6

Question 6

Banking and Bank Reconciliation

When preparing a bank reconciliation statement, which of the following would be ADDED to the bank statement balance?
I. Outstanding cheques
II. Deposits in transit
III. Bank charges are not yet in the cash book
IV. Unpresented cheques

  1. A.I and II only
  2. B.II only
  3. C.I and IV only
  4. D.II and III only
Show the answer and explanation

Answer: B (II only)

Explanation

Deposits not yet credited by the bank are added to the bank statement balance; unpresented (outstanding) cheques are deducted, and bank charges are adjusted in the cash book.