How will you adjust the above reconciliation item in bank reconciliation statement? a. Deduct OMR 2000 from company’s cash book balance b. Add OMR 2000 to Company’s cash book balance c. Deduct OMR 2000 from bank reconciliation statement balance d. Add OMR 2000 to the bank statement balance Clear my choice
How will you adjust the above reconciliation item in bank reconciliation statement? a. Deduct OMR 2000 from company’s cash book balance b. Add OMR 2000 to Company’s cash book balance c. Deduct OMR 2000 from bank reconciliation statement balance d. Add OMR 2000 to the bank statement balance Clear my choice
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Ibra LLC sold OMR 2000 goods to one of their reputed customer Mr Syed and collected the cheque immediately. The company sent the cheque to the bank for deposit, but the bank returned the cheque because of non-sufficient funds in Mr Syed’s account. How will you adjust the above reconciliation item in bank reconciliation statement ?
a.
Deduct OMR 2000 from company’s cash book balance
b.
Add OMR 2000 to Company’s cash book balance
c.
Deduct OMR 2000 from bank reconciliation statement balance
d.
Add OMR 2000 to the bank statement balance
Clear my choice
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