2. Samantha has prepared the following bank reconciliation statement at 31 March. $ 1,250 748 Balance...
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2. Samantha has prepared the following bank reconciliation statement at 31 March. $ 1,250 748 Balance on bank statement Outstanding cheques Outstanding lodgments (Overdrawn) 2,200 Balance on ledger account 202 (Debt) How should the bank balance be reported in Samantha's statement of financial position at 31 March? a. $1,250 as a current account b. $202 as a current liability c. $202 as a current asset d. $1,250 as a current liability I 2. Samantha has prepared the following bank reconciliation statement at 31 March. $ 1,250 748 Balance on bank statement Outstanding cheques Outstanding lodgments (Overdrawn) 2,200 Balance on ledger account 202 (Debt) How should the bank balance be reported in Samantha's statement of financial position at 31 March? a. $1,250 as a current account b. $202 as a current liability c. $202 as a current asset d. $1,250 as a current liability I
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To determine how the bank balance should be reported in Samanthas statement of financial position at 31 March we need to reconcile the balance on the ... View the full answer
Related Book For
Introduction To Financial Accounting
ISBN: 9781526803009
9th Edition
Authors: Anne Marie Ward, Andrew Thomas
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