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Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:
- a)Assets side Rs. 7,900
- b)Liabilities side Rs. 10,300
- c)Liabilities side Rs. 2,400
- d)Assets side Rs. 10,300
Correct answer is 'B'. Can you explain this answer?
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Most Upvoted Answer
Bank column of a cash book of a trader shows a credit balance of Rs. 7...
Explanation:
The bank column of a cash book shows the balance of the trader's account with the bank. On a particular date, the bank column of the cash book shows a credit balance of Rs. 7,900. This means that the trader has deposited Rs. 7,900 in the bank account.
However, the bank statement shows a debit balance of Rs. 10,300. This means that the bank has paid out Rs. 10,300 from the trader's account as per the standing orders.
Therefore, the actual balance of the trader's account with the bank on that particular date is a debit balance of Rs. 10,300. This balance will be shown on the liabilities side of the statement of affairs because it represents an amount that the trader owes to the bank.
Hence, the correct answer is option B, i.e., the bank balance will be shown on the liabilities side of the statement of affairs as Rs. 10,300.
The bank column of a cash book shows the balance of the trader's account with the bank. On a particular date, the bank column of the cash book shows a credit balance of Rs. 7,900. This means that the trader has deposited Rs. 7,900 in the bank account.
However, the bank statement shows a debit balance of Rs. 10,300. This means that the bank has paid out Rs. 10,300 from the trader's account as per the standing orders.
Therefore, the actual balance of the trader's account with the bank on that particular date is a debit balance of Rs. 10,300. This balance will be shown on the liabilities side of the statement of affairs because it represents an amount that the trader owes to the bank.
Hence, the correct answer is option B, i.e., the bank balance will be shown on the liabilities side of the statement of affairs as Rs. 10,300.
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Community Answer
Bank column of a cash book of a trader shows a credit balance of Rs. 7...
As the debit side of pass book indicate unfavorable balance hence it would be a liability and thus answer is b
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Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:a)Assets side Rs. 7,900b)Liabilities side Rs. 10,300c)Liabilities side Rs. 2,400d)Assets side Rs. 10,300Correct answer is 'B'. Can you explain this answer?
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Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:a)Assets side Rs. 7,900b)Liabilities side Rs. 10,300c)Liabilities side Rs. 2,400d)Assets side Rs. 10,300Correct answer is 'B'. 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 Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:a)Assets side Rs. 7,900b)Liabilities side Rs. 10,300c)Liabilities side Rs. 2,400d)Assets side Rs. 10,300Correct answer is 'B'. 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 Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:a)Assets side Rs. 7,900b)Liabilities side Rs. 10,300c)Liabilities side Rs. 2,400d)Assets side Rs. 10,300Correct answer is 'B'. Can you explain this answer?.
Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:a)Assets side Rs. 7,900b)Liabilities side Rs. 10,300c)Liabilities side Rs. 2,400d)Assets side Rs. 10,300Correct answer is 'B'. 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 Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:a)Assets side Rs. 7,900b)Liabilities side Rs. 10,300c)Liabilities side Rs. 2,400d)Assets side Rs. 10,300Correct answer is 'B'. 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 Bank column of a cash book of a trader shows a credit balance of Rs. 7,900 and the bank statement shows a debit balance of Rs. 10,300 on a particular date after payments made by the bank as per the standing orders. In the statement of affairs, the bank balance will be shown on:a)Assets side Rs. 7,900b)Liabilities side Rs. 10,300c)Liabilities side Rs. 2,400d)Assets side Rs. 10,300Correct answer is 'B'. Can you explain this answer?.
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