The Bank Statement of a Business Shows an Overdraft of $10

question 54

Multiple Choice

The bank statement of a business shows an overdraft of $10 000 at 31 March. In reconciling the account at that date indicate the treatment you would give to cheque no. 461 for $30 that was drawn on 25 March but had not yet been presented for payment.

• A) Subtract from the bank statement balance in the bank reconciliation.
• B) Add to the bank statement balance in the bank reconciliation.
• C) Record in the cash receipts journal.
• D) Record in the cash payments journal.

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Definitions:

Nutritional Value

The content of essential nutrients in a food item, which contribute to the health and well-being of those who consume it.

Coordinated Social Interactions

The process by which individuals in a society or group manage their behavior in a way that aligns with social norms, facilitating harmonious and effective group functioning.

Biocultural Connection

The interrelationship between biology and culture, emphasizing how human biology and cultural practices influence each other.

Research Facility

A dedicated space equipped for scientific experiments, studies, and investigation.