Question

earning and spending unit test
in a reconciliation, what must you do if there are deposits made after the closing date of the statement? (1 point)
deposits made after the closing date of the statement should be added to the closing balance of the statement
deposits should be subtracted from the opening balance of the statement
deposits should be subtracted from the closing balance of the statement
deposits should be subtracted from the external register because they were rejected by the bank

Explanation:

In bank - statement reconciliation, deposits made after the closing date are new incoming funds that increase the account balance. So they should be added to the closing balance of the statement.

Answer:

Deposits made after the closing date of the statement should be added to the closing balance of the statement