A bank statement reports the beginning balance, deposits in transit, cancelled cheques, and outstanding cheques for the month.

Question

Quizplus · Accepted Answer

A bank statement reports the beginning balance, deposits, withdrawals, and the ending balance for the month. Deposits in transit and outstanding checks are reconciling items typically identified by the account holder during bank reconciliation, not usually listed by the bank.

A Bank Statement Reports the Beginning Balance, Deposits in Transit