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

Related Mcqs:

A check returned by bank marked “NSF” means that:

A. Bank can’t verify your identity B. There are not sufficient funds in your account C. Check has been forged D. Check can’t be cashed being illegal...

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

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...

___________ are checks that are issued by the business but not yet presented to bank

A. Uncollected checks B. Uncredited checks C. Outstanding checks D. Bounced checks...

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

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

Favorable balance of bank statement implies that

A. Credit balance B. Debit balance C. Bank overdraft D. Adjusted balance...