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The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000?
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The cash book shows a bank balance of Rs. 7,800. On comparing the with...
Discrepancies in the Cash Book:
On comparing the cash book with the bank statement, the following discrepancies were noted:
1. Cheque Deposited in Bank but not Credited:
- Amount: Rs. 3,000
- Explanation: A cheque of Rs. 3,000 was deposited in the bank but has not been credited to the cash book yet. This could be due to a delay in processing the cheque by the bank.
2. Cheque Issued but not yet Presented for Payment:
- Amount: Rs. 1,500
- Explanation: A cheque of Rs. 1,500 has been issued by the company but has not been presented for payment by the recipient yet. Therefore, the amount is still reflected in the cash book as a liability.
3. Insurance Premium paid by the Bank:
- Amount: Rs. 2,000
- Explanation: The bank has directly paid an insurance premium of Rs. 2,000 on behalf of the company. As a result, the amount is not reflected in the cash book but is recorded in the bank statement.
4. Bank Interest Credited by the Bank:
- Amount: Rs. 400
- Explanation: The bank has credited an amount of Rs. 400 as bank interest. This interest income is not reflected in the cash book but is recorded in the bank statement.
5. Bank Charges:
- Amount: Rs. 100
- Explanation: The bank has charged a fee of Rs. 100 for the services provided. This bank charge is not reflected in the cash book but is recorded in the bank statement.
6. Direct Deposit by a Customer:
- Amount: Rs. 4,000
- Explanation: A customer has directly deposited Rs. 4,000 into the company's bank account. This amount is not recorded in the cash book but is reflected in the bank statement.
Impact on Cash Book Balance:
The discrepancies mentioned above have an impact on the cash book balance. In order to reconcile the cash book with the bank statement, the following adjustments need to be made:
- Add the cheque deposited in the bank but not credited of Rs. 3,000 to the cash book balance.
- Subtract the cheque issued but not yet presented for payment of Rs. 1,500 from the cash book balance.
- Subtract the insurance premium paid by the bank of Rs. 2,000 from the cash book balance.
- Add the bank interest credited by the bank of Rs. 400 to the cash book balance.
- Subtract the bank charges of Rs. 100 from the cash book balance.
- Add the amount directly deposited by the customer of Rs. 4,000 to the cash book balance.
After making these adjustments, the revised cash book balance will be calculated.
On comparing the cash book with the bank statement, the following discrepancies were noted:
1. Cheque Deposited in Bank but not Credited:
- Amount: Rs. 3,000
- Explanation: A cheque of Rs. 3,000 was deposited in the bank but has not been credited to the cash book yet. This could be due to a delay in processing the cheque by the bank.
2. Cheque Issued but not yet Presented for Payment:
- Amount: Rs. 1,500
- Explanation: A cheque of Rs. 1,500 has been issued by the company but has not been presented for payment by the recipient yet. Therefore, the amount is still reflected in the cash book as a liability.
3. Insurance Premium paid by the Bank:
- Amount: Rs. 2,000
- Explanation: The bank has directly paid an insurance premium of Rs. 2,000 on behalf of the company. As a result, the amount is not reflected in the cash book but is recorded in the bank statement.
4. Bank Interest Credited by the Bank:
- Amount: Rs. 400
- Explanation: The bank has credited an amount of Rs. 400 as bank interest. This interest income is not reflected in the cash book but is recorded in the bank statement.
5. Bank Charges:
- Amount: Rs. 100
- Explanation: The bank has charged a fee of Rs. 100 for the services provided. This bank charge is not reflected in the cash book but is recorded in the bank statement.
6. Direct Deposit by a Customer:
- Amount: Rs. 4,000
- Explanation: A customer has directly deposited Rs. 4,000 into the company's bank account. This amount is not recorded in the cash book but is reflected in the bank statement.
Impact on Cash Book Balance:
The discrepancies mentioned above have an impact on the cash book balance. In order to reconcile the cash book with the bank statement, the following adjustments need to be made:
- Add the cheque deposited in the bank but not credited of Rs. 3,000 to the cash book balance.
- Subtract the cheque issued but not yet presented for payment of Rs. 1,500 from the cash book balance.
- Subtract the insurance premium paid by the bank of Rs. 2,000 from the cash book balance.
- Add the bank interest credited by the bank of Rs. 400 to the cash book balance.
- Subtract the bank charges of Rs. 100 from the cash book balance.
- Add the amount directly deposited by the customer of Rs. 4,000 to the cash book balance.
After making these adjustments, the revised cash book balance will be calculated.
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The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000?
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The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000?.
The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000?.
Solutions for The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000? in English & in Hindi are available as part of our courses for Class 11.
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The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000?, a detailed solution for The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000? has been provided alongside types of The cash book shows a bank balance of Rs. 7,800. On comparing the with assbook the following discrepancies were noted : (a) Cheque deposited in bank but not credited Rs. 3,000 (b) Cheque issued but not yet present for payment Rs. 1,500 (c) Insurance premium paid by the bank Rs. 2,000 (d) Bank interest credit by the bank Rs. 400 (e) Bank charges Rs. 100 (d) Directly deposited by a customer Rs. 4,000? theory, EduRev gives you an
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