Question

A company issues a check for $75 but records it incorrectly as $57. On the ciliation, the $18 should be a. deducted from the balance per bank. added to the balance per bank. Take Backtig to e deducted from the balance per books. deducted from the balance per books and added to the balance per bank. Company books too Irwin, Inc. has the following assets at the balance sheet date: Cash in bank-savings account $4,000T Amounts due from customers 7,000 Post-dated checks 2,000 Checking account balance 6,000 4. Which amount should be reported as cash in the balance sheet?! a. $10,000 b. $6,000 $11,000 d. $13,000 Saving & checking A $100 petty cash fund has cash of $17 and valid receipts for $81. The replenishment would include a a. credit to Cash for $81. BL+17 b. credit to Cash Over and Short for $2. ra dobit to Cach for 401

Answer 1

Answer the requirements as follows: | 1 2 A в S.No. Particulars 3 Option c. is the correct option Option a. that is $10,000 is the correct option. 4 The last option, that is a debit to cash short and 5 over $2 would be correct option Explanation It should be deducted from balance per books The cash account reported will be a sum of cash in bank and checking account balance Note: This is the correct option, but missing in the image. 3 4 For any queries/doubts, please post in comment section. I would take up the same.