A check of $7,600 deposited has not been cleared by the bank. How is it treated in a bank reconciliation statement?

In a bank reconciliation statement, the $7,600 deposit that has not been cleared by the bank would be considered an outstanding deposit. This means that the deposit has been recorded in the company's books but has not yet been processed by the bank.

To account for this outstanding deposit in the bank reconciliation statement, the company would add the $7,600 to the bank statement balance to reconcile it with the company's book balance. This adjustment would help ensure that the bank reconciliation statement accurately reflects the true cash position of the company.

Add to book balance