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In preparing proof of cash under adjusted balance method     Bank service charge of the previous month is deducted from the previous month book balance and added to the current month disbursement Bank service charge of the current month should be added to the current month book disbursements and deducted from the current month book balance. Bank service charge of the previous month is deducted from the previous month bank balance and added to the current month bank disbursement Bank service charge of the current month should be added to the current month bank disbursements and deducted from the current month bank balance.

In preparing proof of cash under adjusted balance method     Bank service charge of the previous month is deducted from the previous month book balance and added to the current month disbursement Bank service charge of the current month should be added to the current month book disbursements and deducted from the current month book balance. Bank service charge of the previous month is deducted from the previous month bank balance and added to the current month bank disbursement Bank service charge of the current month should be added to the current month bank disbursements and deducted from the current month bank balance.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In preparing proof of cash under adjusted balance method
 
 
  • Bank service charge of the previous month is deducted from the previous month book balance and added to the current month disbursement
  • Bank service charge of the current month should be added to the current month book disbursements and deducted from the current month book balance.
  • Bank service charge of the previous month is deducted from the previous month bank balance and added to the current month bank disbursement
  • Bank service charge of the current month should be added to the current month bank disbursements and deducted from the current month bank balance.
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