The following attempt at a bank reconciliation statement has been prepared by Q Co: $ 38,600Overdraft per bank statement
Add: deposits not credited 41,200 79,800Less: unpresented cheques 3,300Overdraft per cash book 76,500Assuming the bank statement balance of $38,600 to be correct, what should the cash book balance be?
bank is overdrawn.Overdraft????????????????????????????????????? ????? $
Outstanding lodgements?????????????????????? ??????????????????? ??? (38,600)
Unpresented cheques Overdraft????????????????????????????????? ??41,200
The other two items are part of the bank reconciliation. 2,600
???????????????????????????????????????????????????????????????????????????????? ?(3,300) ~(700)
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Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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