Please answer no. 2 A company's bank statement shows $715 direct debits and $353 investment income not recorded in thecash book. The bank statement does not show a customer's cheque for $875 entered in the cash bookon the last day of the accounting period. If the cash book shows a credit balance of $610, what balanceappears on the bank statement?$1,847 debit$1,847 credit$972 credit$972 debitBCNo.2Given the facts in the question above, what is the figure for the bank balance to be reported in the finalaccounts?$1,847 credit$972 credit$972 debit$1,847 debitAB

Answered: No.2 siven the facts in the question…

No.2 siven the facts in the question above, what is the figure for the bank balance to be reported in the final ccounts? $1,847 credit $972 credit $972 debit $1,847 debit

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 5E

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Concept explainers

Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.

Question

Please answer no. 2

A company's bank statement shows $715 direct debits and $353 investment income not recorded in the
cash book. The bank statement does not show a customer's cheque for $875 entered in the cash book
on the last day of the accounting period. If the cash book shows a credit balance of $610, what balance
appears on the bank statement?
$1,847 debit
$1,847 credit
$972 credit
$972 debit
B
C
No.2
Given the facts in the question above, what is the figure for the bank balance to be reported in the final
accounts?
$1,847 credit
$972 credit
$972 debit
$1,847 debit
A
B

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