Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assume that Arkan Majan International LLC sold goods to its customer on credit for OMR 2500 and received notes receivables for the same amount. The

image text in transcribed
Assume that Arkan Majan International LLC sold goods to its customer on credit for OMR 2500 and received notes receivables for the same amount. The customer directly deposited the amount of OMR2500 in company bank account that the company unaware. The company received the bank statement in which OMR 2500 is showing more as compared to company's cash book balance. Therefore while preparing the Bank Reconciliation statement, what adjustment the accountant will do? Choose the correct answer from the following given options. O a. Add OMR2500 to the bank statement balance b. Add OMR2500 to the cash book balance O c. Less OMR2500 from the cash book balance O d. Less OMR2500 from the bank statement balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Auditing And Other Assurance Services

Authors: Ray Whittington, Kurt Pany

22nd Edition

126059808X, 978-1260598087

More Books

Students also viewed these Accounting questions

Question

1. State Amdahls Law in words.

Answered: 1 week ago