Casey Company's bank statement shows a bank balance of $43,267. the statement shows a bank service charge of $50 and a bank collection of $760 in Casey's Comany's behalf. Casey's book balance should be adjusted by a total of., A.+$810., B. $+710., C.+$760., D. -$710.,
+Balance to be adjusted = 760-50 = $710
So correct option is B 710
New question: Tammy industries inadvertently debited a $5,000 betterment as an ordinary expense. Which of the following will occur as a result of this mistake?,
A. the asset will be understated by $5,000.
B.the asset will be overstated by $5,000.
C. retained earnings will be overstated by $5,000.
D.net income will be overstated by $5,000.
Betterment increases the asset value whereas expenses would decrease the net income and retained earning. Since the mistake is made so
So the correct choice is A. the asset will be understated by $5,000.