The bank statement shows a debit balance of Le 475. After the entry of an uncredited of Le Le 800, the new balance is
a
Le 325 overdraft
b
Le 325
c
Le 1,275
d
Le 1,275 overdraft
Explanation
Correct Option
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Bolarinwa_Dorcas
3 months ago
The new balance is Le 325, calculated as a credit (positive) balance. Starting with a bank statement debit balance (overdraft) of Le 475, adding a deposit (uncredited cheque/deposit in transit) of Le 800 changes the position from a deficit to a surplus:
.
Initial Bank Balance: Le 475 (Debit/Overdraft)
Adjustment: + Le 800 (Uncredited deposit)
Calculation: Le 800 (Deposit) - Le 475 (Overdraft) = Le 325 (Positive/Credit balance)
Result: A new balance of Le 325.
It is not an overdraft, myschool please correct this
