Accounting 9706 · AS & A Level · Reconciliation and verification

Reconciliation and verification — practice question

A bank statement indicated an overdraft of $750. Afterward, the following matters were found. 1. A cheque for $570, sent out to settle rent, had not yet been presented. 2. A cheque received for $624 did not appear on the bank statement. 3. The bank statement showed a bank charge of $50, but this had not been recorded in the cash book. What overdraft amount should be shown in the statement of financial position?

  • A$646
  • B$696
  • C$754
  • D$1894

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