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The credit balance as per pass book of ‘X’ was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in ‘X’ A/c Rs.20,600.The balance as per cash book is _____
- a)Rs.31.400 Debit
- b)Rs.31,400 Overdraft
- c)Rs.1,20,000 Debit
- d)Rs. 10,400 Overdraft
Correct answer is option 'B'. Can you explain this answer?
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The credit balance as per pass book of X was Rs.65,000. Cheques issued...
The given question is related to bank reconciliation and requires us to determine the balance as per the cash book based on the information provided. Let's analyze the information step by step:
1. Credit balance as per passbook: Rs.65,000
This means that according to the bank's records (passbook), the account holder (X) has a credit balance of Rs.65,000.
2. Cheques issued but not paid: Rs.75,800
This indicates that X has issued cheques worth Rs.75,800, but they have not been paid by the bank yet. Therefore, these cheques need to be deducted from the credit balance.
3. Cheques deposited by a customer but wrongly credited in X's account: Rs.20,600
This implies that a customer of the bank has deposited cheques amounting to Rs.20,600, but instead of being credited to the customer's account, they were mistakenly credited to X's account. Hence, this amount needs to be added to the credit balance.
Now, let's calculate the balance as per the cash book using the above information:
Credit balance as per passbook: Rs.65,000
Less: Cheques issued but not paid: Rs.75,800
Add: Cheques wrongly credited in X's account: Rs.20,600
Calculating the balance:
Rs.65,000 - Rs.75,800 + Rs.20,600 = Rs.10,800
Since the resulting balance is positive (Rs.10,800), it represents an overdraft in the cash book. Hence, the correct answer is option 'B' - Rs.31,400 Overdraft.
To summarize:
- The credit balance as per the passbook is Rs.65,000.
- Cheques issued but not paid amount to Rs.75,800, which needs to be deducted.
- Cheques deposited by a customer but wrongly credited in X's account amount to Rs.20,600, which needs to be added.
- The resulting balance as per the cash book is Rs.10,800, representing an overdraft.
- Thus, the correct answer is option 'B' - Rs.31,400 Overdraft.
1. Credit balance as per passbook: Rs.65,000
This means that according to the bank's records (passbook), the account holder (X) has a credit balance of Rs.65,000.
2. Cheques issued but not paid: Rs.75,800
This indicates that X has issued cheques worth Rs.75,800, but they have not been paid by the bank yet. Therefore, these cheques need to be deducted from the credit balance.
3. Cheques deposited by a customer but wrongly credited in X's account: Rs.20,600
This implies that a customer of the bank has deposited cheques amounting to Rs.20,600, but instead of being credited to the customer's account, they were mistakenly credited to X's account. Hence, this amount needs to be added to the credit balance.
Now, let's calculate the balance as per the cash book using the above information:
Credit balance as per passbook: Rs.65,000
Less: Cheques issued but not paid: Rs.75,800
Add: Cheques wrongly credited in X's account: Rs.20,600
Calculating the balance:
Rs.65,000 - Rs.75,800 + Rs.20,600 = Rs.10,800
Since the resulting balance is positive (Rs.10,800), it represents an overdraft in the cash book. Hence, the correct answer is option 'B' - Rs.31,400 Overdraft.
To summarize:
- The credit balance as per the passbook is Rs.65,000.
- Cheques issued but not paid amount to Rs.75,800, which needs to be deducted.
- Cheques deposited by a customer but wrongly credited in X's account amount to Rs.20,600, which needs to be added.
- The resulting balance as per the cash book is Rs.10,800, representing an overdraft.
- Thus, the correct answer is option 'B' - Rs.31,400 Overdraft.
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Community Answer
The credit balance as per pass book of X was Rs.65,000. Cheques issued...
Balance as per pass book. =65000
(-)cheques issued but presented. =75800
(-)wrongly credit to pass book. =20600
:-overdraft balance as per cash
book. =(31,400)
(-)cheques issued but presented. =75800
(-)wrongly credit to pass book. =20600
:-overdraft balance as per cash
book. =(31,400)
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The credit balance as per pass book of X was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in X A/c Rs.20,600.The balance as per cash book is _____a)Rs.31.400 Debitb)Rs.31,400 Overdraftc)Rs.1,20,000 Debitd)Rs. 10,400 OverdraftCorrect answer is option 'B'. Can you explain this answer?
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The credit balance as per pass book of X was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in X A/c Rs.20,600.The balance as per cash book is _____a)Rs.31.400 Debitb)Rs.31,400 Overdraftc)Rs.1,20,000 Debitd)Rs. 10,400 OverdraftCorrect answer is option 'B'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about The credit balance as per pass book of X was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in X A/c Rs.20,600.The balance as per cash book is _____a)Rs.31.400 Debitb)Rs.31,400 Overdraftc)Rs.1,20,000 Debitd)Rs. 10,400 OverdraftCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The credit balance as per pass book of X was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in X A/c Rs.20,600.The balance as per cash book is _____a)Rs.31.400 Debitb)Rs.31,400 Overdraftc)Rs.1,20,000 Debitd)Rs. 10,400 OverdraftCorrect answer is option 'B'. Can you explain this answer?.
The credit balance as per pass book of X was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in X A/c Rs.20,600.The balance as per cash book is _____a)Rs.31.400 Debitb)Rs.31,400 Overdraftc)Rs.1,20,000 Debitd)Rs. 10,400 OverdraftCorrect answer is option 'B'. Can you explain this answer? for CA CPT 2024 is part of CA CPT preparation. The Question and answers have been prepared according to the CA CPT exam syllabus. Information about The credit balance as per pass book of X was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in X A/c Rs.20,600.The balance as per cash book is _____a)Rs.31.400 Debitb)Rs.31,400 Overdraftc)Rs.1,20,000 Debitd)Rs. 10,400 OverdraftCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA CPT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The credit balance as per pass book of X was Rs.65,000. Cheques issued but not paid Rs.75,800.Cheques deposited by one of the customers ofbank but wrongly credited in X A/c Rs.20,600.The balance as per cash book is _____a)Rs.31.400 Debitb)Rs.31,400 Overdraftc)Rs.1,20,000 Debitd)Rs. 10,400 OverdraftCorrect answer is option 'B'. Can you explain this answer?.
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