In amended cash book, which of the following will be recorded?
Interest allowed by bank credited in the pass book
The correct answer is option 2. In an amended cash book, interest allowed by the bank and credited in the passbook will be recorded. This adjustment is necessary because the cash book initially may not reflect the bank’s interest entry. The other options represent different types of transactions that don't require adjustment in the amended cash book.
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 ______.
