Indicate in which section of the Bank Reconciliation Statement the following reconciling items would appear. A deposit in transit.

Question

Indicate in which section of the Bank Reconciliation Statement the following reconciling items would appear.  A deposit in transit.

Quizplus · Accepted Answer

A deposit in transit is an item that has been recorded by the company but has not yet been recorded by the bank. Therefore, it would be part of the company's book balance and would appear in the "Additions" section of the bank reconciliation statement. Option A is the only option that includes an "Additions" section.

Indicate in Which Section of the Bank Reconciliation Statement the Following