Question
At 30 June 20X3 the transaction report downloaded from Jopp plc's electronic banking system shows a debit balance of 2,072. The transaction report includes a
At 30 June 20X3 the transaction report downloaded from Jopp plc's electronic banking system shows a debit balance of 2,072. The transaction report includes a deposit from a customer of E350 which on investigation should have been shown as 3,500. On 29 June 20X3 Jopp plc had paid a cheque of 2,500 to the company's pension fund which had not yet appeared on the transaction report
What is the balance on the bank account which will be included in the company's statement of financial position at 30 June 20X3?
A 2,722 asset
B. 1,422 overdraft
C 3,578 overdraft
D 7,722 overdraft
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