Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

JUST NEED OPTION no need explain NO need for explanation i will rate you Salman and sons Traders LLC sold OMR 4500 goods to Mr

JUST NEED OPTION

no need explain

NO need for explanation

i will rate you

image text in transcribed
Salman and sons Traders LLC sold OMR 4500 goods to Mr Omar and collected cheque for the same amount. Before this transaction, as per the bank statement, the cash balance in the bank account was OMR 4500 and the same balance was found in cash ledger of the company also. The company deposited the cheque in the bank but the bank not yet credited that amount in company's bank account because of (Non-sufficient funds) NSF. What will be the effect of the above transaction on cash book balance and bank statement balance? e a. None of the given options b. Bank statement balance will show OMR 4500 more and cashbook balance will show OMR 4500 less e Company's cashbook balance will show OMR 4500 more and bank statement balance will show OMR4500 less a. Both cashbook balance and bank statement balances will show same balance Next page

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

Information Audit For The Management Process Empresa Nacional De Productos Agropecuarios ENPA Of Villa Clara

Authors: Alejandra María Osorio Capote, Manuel Osvaldo Machado Rivero, Dianelys Martínez Paz

1st Edition

6203767883, 978-6203767889

More Books

Students also viewed these Accounting questions