Question

Which of the following items must be added to the cash balance per ledger in preparing a bank reconciliation which ends with adjusted cash balance? a Service charge b NSF customer check c Erroneous bank debit d Note receivable collected by bank in favor of the depositor and credited to the account of the depositor

Answer 1

Answer: Note receivable collected by bank in favor of the depositor and credited to the account of the depositor

Explanation:

A bank reconciliation is when the records for a cash account of an entity are been matched to the corresponding information that are provided on a bank statement.

When preparing a bank reconciliation which ends with adjusted cash balance, the note receivable collected by bank in favor of the depositor and credited to the account of the depositor must be added to the cash balance per ledger.

Answer 2

The item that can be included in cash balance per ledger ,when one is setting a bank reconciliation and required to end it with adjusted cash balance is D: Note receivable collected by bank in favor of the depositor and credited to the account of the depositor.

• a bank reconciliation can be regarded as a process whereby bank account balance in an entity's books of account is been set to reconcile to the reported balance reported in the recent bank statement.

• This is usually carried out by financial institution, When one needs to  prepare a bank reconciliation that must have  adjusted cash balance at the end,

• then the financial institution must add to the cash balance per ledger, a note receivable which must be collected by bank and be in favor of the depositor as well as  credited to the account of the depositor

Therefore, option D is correct

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