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Accounting MCQs / Q&A

Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.

Accounting MCQs / Q&A, Bank reconciliation statement MCQs /
Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement.

A. $2000
B. Zero
C. $3000
D. $2500

Balance as per cash book(adjusted.=$1000, Unpresented checks=$2000, Uncredited checks=$500, Deposit in transit=$500. Compute the balance as per bank statement. Read More »

Accounting MCQs / Q&A, Bank reconciliation statement MCQs

In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.

Accounting MCQs / Q&A, Bank reconciliation statement MCQs /
In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book.

A. Adjusted
B. Unadjusted
C. Understated
D. Overstated

In bank reconciliation statement the amount of outstanding checks is added to ________ balance of cash book. Read More »

Accounting MCQs / Q&A, Bank reconciliation statement MCQs

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.

Accounting MCQs / Q&A, Bank reconciliation statement MCQs /
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.

A. $500 will be debited
B. $500 will be credited
C. Non-adjustable
D. $1000 will be subtracted

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. Read More »

Accounting MCQs / Q&A, Bank reconciliation statement MCQs

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?

Accounting MCQs / Q&A, Bank reconciliation statement MCQs /
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. $2000 will be debited in cash book
B. $2000 will be credited in cash book
C. $4000 will be debited in cash book
D. $4000 will be credited in the 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? Read More »

Accounting MCQs / Q&A, Bank reconciliation statement MCQs