If a Bookkeeper Mistakenly Records a Disbursement as $69 Instead

question 44

Multiple Choice

If a bookkeeper mistakenly records a disbursement as $69 instead of the correct amount of $96,the error should be shown on the bank reconciliation as a:

• A)$27 addition to the balance per books.
• B)$27 deduction from the balance per books.
• C)$165 addition to the balance per books.
• D)$165 deduction from the balance per books.

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Definitions:

Consolidated Cost Of Goods Sold

The total cost of goods that have been sold by a parent company and its subsidiaries, presented as a single figure in consolidated financial statements.

Intra-entity Transfers

Transactions that occur between two units within the same company, such as the transfer of goods or services from one department to another.

Consolidated Sales

The total sales revenue of a company and its subsidiaries combined, presented as a single figure in financial statements.

Gross Profit

Gross Profit is the financial gain obtained after deducting the cost of goods sold (COGS) from total revenue, indicating the efficiency of a company's core operations.