ACCT1501 Practice Exam Questions & Solutions
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ACCT1501 Practice Exam Questions & Solutions ACCT1501 Practice Exam Questions & Solutions 1
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QUESTION 1 (6 Marks)Bank Reconciliation The following information is given about Nadak Co.: 1. The August 31 balance shown on the bank statement is $9,810. 2. There is a deposit in transit of $1,260 at August 31. 3. Outstanding cheques at August 31 totalled $1,890. 4. A bank charge of $40 for cheques was made to the account during August, as shown on the bank statement. Although the company was expecting a charge, its amount was not known until the bank statement arrived. 5. In the process of ...
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ACCT1501 Practice Exam Questions & Solutions•ACCT1501 Practice Exam Questions & Solutions
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QUESTION 1 (6 Marks)Bank Reconciliation The following information is given about Nadak Co.: 1. The August 31 balance shown on the bank statement is $9,810. 2. There is a deposit in transit of $1,260 at August 31. 3. Outstanding cheques at August 31 totalled $1,890. 4. A bank charge of $40 for cheques was made to the account during August, as shown on the bank statement. Although the company was expecting a charge, its amount was not known until the bank statement arrived. 5. In the process of ...