To convert the accounts prepared on cash system of accounting into mercantile system of
accounting, which of these adjustments is not necessary

Question

TuteeHUB · Accepted Answer

Adjustment of prepaid expenses and income received in advance

TuteeHUB · Answer

Reconciliation of cash with bank

TuteeHUB · Answer

Adjustment of outstanding expenses and income statement

TuteeHUB · Answer

Distinction between revenue and capital expenditure/income

1.	To convert the accounts prepared on cash system of accounting into mercantile system of accounting, which of these adjustments is not necessary
A.	Reconciliation of cash with bank
B.	Adjustment of prepaid expenses and income received in advance
C.	Adjustment of outstanding expenses and income statement
D.	Distinction between revenue and capital expenditure/income
Answer» B. Adjustment of prepaid expenses and income received in advance

Discussion