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The cash book showed an overdraft of rs 1500000 , but the pass book made up to the same date showed that cheques of rs 10000 rs 125000 respectively had not been presented for payment and the charges of rs 4000 paid into account had not been cleared,. The balance as per the pass book will be?
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The cash book showed an overdraft of rs 1500000 , but the pass book ma...
Understanding the Cash Book and Pass Book Discrepancy
The cash book and pass book are essential accounting records that help businesses track their cash flow. In this scenario, we need to reconcile the overdraft shown in the cash book with the actual balance in the pass book.
Initial Overdraft in Cash Book
- The cash book indicates an overdraft of Rs 1,500,000.
Unpresented Cheques
- There are two unpresented cheques:
- Cheque 1: Rs 10,000
- Cheque 2: Rs 125,000
- Total of unpresented cheques:
- Rs 10,000 + Rs 125,000 = Rs 135,000
Charges Not Cleared
- A deposit of Rs 4,000 was made but has not cleared. This means the actual balance is still impacted by this amount.
Calculating the Balance as per Pass Book
To find the balance according to the pass book, we need to adjust the cash book overdraft by the amounts related to unpresented cheques and the deposit not cleared.
- Start with the overdraft:
- Rs 1,500,000
- Add the unpresented cheques:
- Rs 1,500,000 + Rs 135,000 = Rs 1,635,000
- Subtract the charges that have not cleared:
- Rs 1,635,000 - Rs 4,000 = Rs 1,631,000
Final Balance as per Pass Book
- Therefore, the balance as per the pass book will be Rs 1,631,000.
In summary, by accounting for unpresented cheques and pending deposits, we can accurately determine the actual balance reflected in the pass book.
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The cash book showed an overdraft of rs 1500000 , but the pass book made up to the same date showed that cheques of rs 10000 rs 125000 respectively had not been presented for payment and the charges of rs 4000 paid into account had not been cleared,. The balance as per the pass book will be?
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The cash book showed an overdraft of rs 1500000 , but the pass book made up to the same date showed that cheques of rs 10000 rs 125000 respectively had not been presented for payment and the charges of rs 4000 paid into account had not been cleared,. The balance as per the pass book will be? 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 The cash book showed an overdraft of rs 1500000 , but the pass book made up to the same date showed that cheques of rs 10000 rs 125000 respectively had not been presented for payment and the charges of rs 4000 paid into account had not been cleared,. The balance as per the pass book will be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The cash book showed an overdraft of rs 1500000 , but the pass book made up to the same date showed that cheques of rs 10000 rs 125000 respectively had not been presented for payment and the charges of rs 4000 paid into account had not been cleared,. The balance as per the pass book will be?.
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