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Assume that Oman Formaldehyde Chemical Company LLC sold the chemical of OMR 540 to the customer and received the check to the same amount. The cheque deposited in the bank immediately but the cheque received from the customer was misreported in the cash receipts journal as OMR 450. Therefore while preparing the Bank Reconciliation statement, what adjustment the accountant will do? Choose the correct answer from the following given options. a. Add OMR 540 to the cash book balance b. Deduct OMR 90 from the cash book balance c. Deduct OMR 540 from the cash book balance d. Add OMR 90 to the cash book balance Clear my choice

Assume that Oman Formaldehyde Chemical Company LLC sold the chemical of OMR 540 to the customer and received the check to the same amount. The cheque deposited in the bank immediately but the cheque received from the customer was misreported in the cash receipts journal as OMR 450. Therefore while preparing the Bank Reconciliation statement, what adjustment the accountant will do? Choose the correct answer from the following given options. a. Add OMR 540 to the cash book balance b. Deduct OMR 90 from the cash book balance c. Deduct OMR 540 from the cash book balance d. Add OMR 90 to the cash book balance Clear my choice

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 2SEQ
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Assume that Oman Formaldehyde Chemical Company LLC sold the chemical of OMR 540 to the customer and received the check to the same amount. The cheque deposited in the bank immediately but the cheque received from the customer was misreported in the cash receipts journal as OMR 450. Therefore while preparing the Bank Reconciliation statement, what adjustment the accountant will do? Choose the correct answer from the following given options. a. Add OMR 540 to the cash book balance b. Deduct OMR 90 from the cash book balance c. Deduct OMR 540 from the cash book balance d. Add OMR 90 to the cash book balance Clear my choice
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