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Which of the following items would not normally appear on bank reconciliations?

a. Balance per bank
b. List of deposits in transit
c. Outstanding deposits
d. Outstanding checks

User Linval
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1 Answer

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Final answer:

On bank reconciliations, the item that would not normally appear is 'Outstanding deposits.' A bank reconciliation includes items like balance per bank, list of deposits in transit, and outstanding checks to verify accuracy between company books and bank records.

Step-by-step explanation:

An item that would not normally appear on a bank reconciliation is c. Outstanding deposits. A bank reconciliation statement is a document that matches the cash balance on a company's balance sheet to the corresponding amount on its bank statement. The purpose of this reconciliation is to ensure that the records are consistent and accurate. Common items included in a bank reconciliation are:

  • Balance per bank: This is the ending cash balance according to the bank statement.
  • List of deposits in transit: Money that has been received by a company but not yet recorded by the bank.
  • Outstanding checks: Checks that have been written by a company but not yet cleared by the bank.

By contrast, outstanding deposits refer to deposits that have been recorded by the bank but are not yet reflected in a company's books, which usually do not appear on a reconciliation since the reconciliation starts with the bank's recorded balance.

User Erfan
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