Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?

Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?

Incorrect

Bank charges will be added to cash book balance

Incorrect

Bank charges will be debited in cash book

Correct

Bank charges will be credited in cash book

Incorrect

Bank charges need no adjustment in cash book

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 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?

Incorrect

$4000 will be debited in cash book

Incorrect

$2000 will be debited in cash book

Correct

$2000 will be credited in cash book

Incorrect

$4000 will be credited in the cash book

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 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

Correct

$3000 will be subtracted from cash book balance

Incorrect

$1000 will be added to cash book balance

Incorrect

$3000 will be added to cash book balance

Incorrect

$2000 will be deducted from cash book balance

A check returned by bank marked “NSF” means that:

A check returned by bank marked “NSF” means that:

Incorrect

Check has been forged

Correct

There are not sufficient funds in your account

Incorrect

Check can’t be cashed being illegal

Incorrect

Bank can’t verify your identity

A cash deposit made by business appears on the bank statement as _______ balance?

A cash deposit made by business appears on the bank statement as _______ balance?

Incorrect

Expenses

Incorrect

Debit

Incorrect

Liability

Correct

Credit

$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

$5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.

Incorrect

$10,000 will be credited

Incorrect

$5000 will be debited

Incorrect

$10,000 will be debited

Correct

$5000 will be credited

On which date is Death Anniversary of Quaid e Azam observed ?

On which date is Death Anniversary of Quaid e Azam observed ?

Incorrect

11th October

Incorrect

21st March

Correct

11th September

Incorrect

9th November

Pages

Subscribe to Pak Study RSS