CA Foundation Exam > CA Foundation Questions > In the bank reconciliation statement, when ba...
Start Learning for Free
In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will be
- a)Added
- b)Subtracted
- c)Ignored
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
In the bank reconciliation statement, when balance as per the cash boo...
In the bank reconciliation statement, when the balance as per the cash book is taken as the starting point, direct deposits from the customer of Rs. 2,500 in the bank will be Added.
Explanation:
Explanation:
- A bank reconciliation statement is a statement prepared to reconcile the difference between the cash book balance and the bank statement balance.
- When the balance as per the cash book is taken as the starting point, adjustments are made for transactions that have been recorded in the bank statement but not in the cash book.
- Direct deposits from the customer (Rs. 2,500 in this case) are transactions where the customer directly deposits the money into the bank account without informing the business. Since the business is not aware of this transaction, it is not recorded in the cash book.
- Therefore, to reconcile the cash book balance with the bank statement balance, the direct deposit amount of Rs. 2,500 needs to be added to the cash book balance.
- This adjustment ensures that the cash book balance accurately reflects the bank statement balance, taking into account all transactions, including those not initially recorded in the cash book.
Free Test
FREE
| Start Free Test |
Community Answer
In the bank reconciliation statement, when balance as per the cash boo...
Added; bank debits the coustomer's accounts as soon as it make the payment but the customers credit the bank's account obly when it comes to know about the such payments
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
Question Description
In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
Solutions for In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice In the bank reconciliation statement, when balance as per the cash book is taken as the starting point, then direct deposits from the customer of Rs. 2,500 in the bank will bea)Addedb)Subtractedc)Ignoredd)None of the aboveCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup