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MCQs / Q&A

$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

Accounting MCQs / Q&A, Bank reconciliation statement MCQs /
$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

A. $5000 will be credited
B. $5000 will be debited
C. $10,000 will be credited
D. $10,000 will be debited

$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book. Read More »

Accounting MCQs / Q&A, Bank reconciliation statement 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

Accounting MCQs / Q&A, Bank reconciliation statement 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

A. $1000 will be added to cash book balance
B. $2000 will be deducted from cash book balance
C. $3000 will be added to cash book balance
D. $3000 will be subtracted from cash book balance

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 Read More »

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.

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