Financial Accounting
A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book
$1000 will be added to cash book balance
$2000 will be deducted from cash book balance
$3000 will be added to cash book balance
$3000 will be subtracted from cash book balance
$3000 will be subtracted from cash book balance
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C. Amount
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A. One part
B. Two parts
C. Three parts
D. Four parts
Stock in trade is:
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B. A fixed Asset
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B. Credit side of an account
C. Both sides of an account
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B. Profit and Loss Account
C. Balance sheet
D. Sales Account
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