Which one of the items below appears on the bank statement but has not yet been accounted for in the cash book (unrecorded items)?
Understand the Problem
The question is asking which item listed on the bank statement has not yet been recorded in the cash book. It seeks to identify a specific unrecorded item among the options provided.
Answer
Interest income of R360 appeared on the bank statement.
The interest income of R360 appears on the bank statement but has not yet been accounted for in the cash book.
Answer for screen readers
The interest income of R360 appears on the bank statement but has not yet been accounted for in the cash book.
More Information
Interest income often appears on bank statements before being recorded in the cash book because it is credited directly by the bank.
Tips
A common mistake is confusing bank errors with unrecorded items. Focus on entries made by the bank that might not be immediately known to the company.
Sources
- Unrecorded Transactions Treatment in Bank Reconciliation Statement - financestrategists.com
AI-generated content may contain errors. Please verify critical information
