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
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 - 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 - $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 - 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 - 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 - Bank reconciliation statement is the comparison of a bank statement (sent by bank) with the _________ (prepared by business).
A. Cash receipt journal
B. Cash payment journal
C. Cash book
D. Financial statements - Debit side of Bank Pass book corresponds to___________?
A. Credit side of Cash Book
B. Debit side of Cash Book
C. Debit side of Trial Balance
D. Credit side of Balance Sheet - Debit balance as per bank pass book mean_____________?
A. Surplus cash
B. Bank Overdraft
C. Terms deposits with bank
D. None of these - A cash book with cash, bank and discount column is commonly referred as________?
A. Cash book
B. Two columns cash book
C. Three columns cash book
D. Petty cash book - Difference in Bank Balance as per Pass Book and Cash Book may arise on account of_____________?
A. Cheque issued but not presented
B. Cheque issued but dishonoured
C. Cheque deposited and credited by bank
D. Both A and B
