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.

Related Mcqs:

A cash deposit made by business appears on the bank statement as _______ balance?

A. Debit B. Credit C. Expenses D. Liability...

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...

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...

Which of the following error results in unadjusted cash book balance?

A. Outstanding checks B. Unpresented checks C. Deposit in transit D. Omission of Bank charges...