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The balance as per Cash Book is Rs. 10,000 Cheques for Rs. 2,000 were issued but not presented for payment. What would be the balance as per Pass Book?
- a)Rs. 10,000
- b)Rs. 2,000
- c)Rs. 12,000
- d)None of the above
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
The balance as per Cash Book is Rs. 10,000 Cheques for Rs. 2,000 were ...
Bal. as per cashbook = 10,000
Add: cheques issued but not presented =2,000
.•. bal. as per passbook = 12,000
Add: cheques issued but not presented =2,000
.•. bal. as per passbook = 12,000
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The balance as per Cash Book is Rs. 10,000 Cheques for Rs. 2,000 were ...
Balance as per Cash Book: Rs. 10,000
Cheques issued but not presented for payment: Rs. 2,000
To find the balance as per Pass Book, we need to consider the transactions that are recorded in the Pass Book but not in the Cash Book. In this case, the cheques issued but not presented for payment are one such transaction.
Let's understand the process step by step:
Step 1: Start with the balance as per Cash Book
The balance as per Cash Book is given as Rs. 10,000.
Step 2: Consider the cheques issued but not presented for payment
Cheques worth Rs. 2,000 were issued but not presented for payment. This means that the Cash Book does not have a record of this transaction.
Step 3: Adjust the balance as per Pass Book
Since the cheques issued but not presented for payment are not recorded in the Cash Book, we need to adjust the balance as per Pass Book to account for this transaction.
The cheques issued but not presented for payment represent an outflow of funds from the bank account. Therefore, the balance as per Pass Book will be lower than the balance as per Cash Book.
To find the adjusted balance as per Pass Book, we subtract the amount of cheques issued but not presented from the balance as per Cash Book:
Adjusted balance as per Pass Book = Balance as per Cash Book - Cheques issued but not presented for payment
= Rs. 10,000 - Rs. 2,000
= Rs. 8,000
Therefore, the correct answer is option 'C': Rs. 12,000.
Cheques issued but not presented for payment: Rs. 2,000
To find the balance as per Pass Book, we need to consider the transactions that are recorded in the Pass Book but not in the Cash Book. In this case, the cheques issued but not presented for payment are one such transaction.
Let's understand the process step by step:
Step 1: Start with the balance as per Cash Book
The balance as per Cash Book is given as Rs. 10,000.
Step 2: Consider the cheques issued but not presented for payment
Cheques worth Rs. 2,000 were issued but not presented for payment. This means that the Cash Book does not have a record of this transaction.
Step 3: Adjust the balance as per Pass Book
Since the cheques issued but not presented for payment are not recorded in the Cash Book, we need to adjust the balance as per Pass Book to account for this transaction.
The cheques issued but not presented for payment represent an outflow of funds from the bank account. Therefore, the balance as per Pass Book will be lower than the balance as per Cash Book.
To find the adjusted balance as per Pass Book, we subtract the amount of cheques issued but not presented from the balance as per Cash Book:
Adjusted balance as per Pass Book = Balance as per Cash Book - Cheques issued but not presented for payment
= Rs. 10,000 - Rs. 2,000
= Rs. 8,000
Therefore, the correct answer is option 'C': Rs. 12,000.
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The balance as per Cash Book is Rs. 10,000 Cheques for Rs. 2,000 were issued but not presented for payment. What would be the balance as per Pass Book?a)Rs. 10,000b)Rs. 2,000c)Rs. 12,000d)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
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