Babasiga Lions Ltd. receives a cheque for $1000 records it in cash book and deposits it on the same day. A statement sent by the bank that day does not show this $1000. How is this shown on the bank reconciliation statement? A. As an uncredited deposits deducted from the bank statement balance B. As an Unpresented check added to the bank statement balance C. As an Unpresented check deducted from the bank statement balance D. As an uncredited deposits added to the bank statement balance
Babasiga Lions Ltd. receives a cheque for $1000 records it in cash book and deposits it on the same day. A statement sent by the bank that day does not show this $1000. How is this shown on the bank reconciliation statement? A. As an uncredited deposits deducted from the bank statement balance B. As an Unpresented check added to the bank statement balance C. As an Unpresented check deducted from the bank statement balance D. As an uncredited deposits added to the bank statement balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Babasiga Lions Ltd. receives a cheque for $1000 records it in
A.
As an uncredited deposits deducted from the bank statement balance
B.
As an Unpresented check added to the bank statement balance
C.
As an Unpresented check deducted from the bank statement balance
D.
As an uncredited deposits added to the bank statement balance
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education