On receipt of bank statements, a company has identified that bank has collected interest OMR 100, but was not recorded in the cash book. How do you treat this item while preparing bank reconciliation statement? a. Add to the cash book balance b. Deduct from the bank statement balance c. Add to the bank statement balance d. Deduct from the cash book balance
On receipt of bank statements, a company has identified that bank has collected interest OMR 100, but was not recorded in the cash book. How do you treat this item while preparing bank reconciliation statement? a. Add to the cash book balance b. Deduct from the bank statement balance c. Add to the bank statement balance d. Deduct from the cash book balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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28. On receipt of bank statements, a company has identified that bank has collected interest OMR 100, but was not recorded in the cash book . How do you treat this item while preparing bank reconciliation statement ?
a.
Add to the cash book balance
b.
Deduct from the bank statement balance
c.
Add to the bank statement balance
d.
Deduct from the cash book balance
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