Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book??

Accounting Mcqs
BILAL KHATTAK0

A. Bank charges will be debited in cash book
B. Bank charges will be added to cash book balance 
C. Bank charges will be credited in cash book 
D. Bank charges need no adjustment in cash book

Related Mcqs:

  1. A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book?
  2. $5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.?
  3. A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book??
  4. Bank sent debit advice of $500 to company being interest on overdraft. It wasn’t entered in cash book. Identify the correct adjustment in cash book.?
  5. A cash book with cash, bank and discount column is commonly referred as________??
  6. Benefits of preparing Bank Reconciliation Statement includes___________??
  7. A cash book that is used to record the small payments of cash is generally referred as_________??
  8. Favorable balance of cash book implies that?
  9. Standing orders are ________?
  10. Cash book with cash and discount column is mostly referred as________??

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