If the balance as per Cash Book is Rs.5,800; cheques amounting to Rs.2,000 are issued but not yet presented; cheques of Rs.1,500 sent for collection, but not yet collected, and an amount of Rs.200 is wrongly debited by the bank, what will be the balance as per Pass Book?
Rs.6,100
The correct answer is option 3. To reconcile the Pass Book balance, subtract the cheques issued but not yet presented (Rs.2,000), add the cheques sent for collection but not yet collected (Rs.1,500), and add the wrongly debited amount (Rs.200). The Pass Book balance will be Rs.6,100.
Important Questions from Bank Reconciliation statement
A credit balance in the bank passbook indicates a/an ___________ balance and a debit balance in the cash book indicates a/an ____________ balance.
Mr. A draws a 6-month trade bill on B for Rs. 25,000 on 1 January 2021. After holding the bill for 2 months. A decided to discount the bill with the bank at the rate of 10% p.a. The amount of discount on the bill is ______________ approximately (select the answer with the closest value).
When starting balance is debit, i.e., favourable balance as per cash book, identify which of the following transactions will be added?
When Bank Reconciliation Statement is started with favourable balance as per cash book, which of the following will be added?
The objective of preparing a Bank Reconciliation Statement is to ______.
