Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 27 - No. 10)
What is the impact of an unrecorded deposit on a bank reconciliation prepared using the bank statement method?
It increases the balance per the bank statement.
It decreases the balance per the bank statement.
It increases the balance per the company's books.
It decreases the balance per the company's books.
Explanation
Deposits in transit (unrecorded deposits) increases the balance per bank statement.
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