A. $500 will be debited
B. $500 will be credited
C. Non-adjustable
D. $1000 will be subtracted
Related Mcqs:
- 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?
- $5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.?
- Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book??
- 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??
- A cash book with cash, bank and discount column is commonly referred as________??
- Debit balance as per bank pass book mean_____________??
- Debit side of Bank Pass book corresponds to___________??
- Difference in Bank Balance as per Pass Book and Cash Book may arise on account of_____________??
- The accountant of Leo Ltd. recorded a payment by cheque to a creditor for supply of materials as 1,340.56. The bank recorded the cheque at its correct amount of 3,140.56. The Company has not passed any rectification entries and the error is not detected through the bank reconciliation. The impact of this error is?
- In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.?
