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Bank Overdraft as per cash book is Rs. 10,500. Interest debited by bank Rs. 3,500 for which advice was not received by account holder. Cheques deposited but not credited by bank Rs. 7,500. Cheques issued but not yet presented Rs. 9,500. What is the Overdraft amount as per Pass Book?
- a)Rs. 12,000
- b)Rs. 16,000
- c)Rs. 5,000
- d)Rs. 9,000
Correct answer is 'A'. Can you explain this answer?
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Bank Overdraft as per cash book is Rs. 10,500. Interest debited by ban...
Given:
Overdraft as per cash book = Rs. 10,500
Interest debited by bank = Rs. 3,500
Cheques deposited but not credited by bank = Rs. 7,500
Cheques issued but not yet presented = Rs. 9,500
To find: Overdraft amount as per Pass Book
Calculation:
1. Add interest debited by bank to the Overdraft as per cash book
= Rs. 10,500 + Rs. 3,500
= Rs. 14,000
2. Deduct cheques deposited but not credited by bank
= Rs. 14,000 - Rs. 7,500
= Rs. 6,500
3. Deduct cheques issued but not yet presented
= Rs. 6,500 - Rs. 9,500
= Rs. -3,000
As the final balance is negative, it means the Pass Book is overdrawn by Rs. 3,000.
However, we need to keep in mind that the question asks for the Overdraft amount as per Pass Book, which is technically the opposite of being overdrawn. Therefore, we need to take the absolute value of the final balance.
Final Answer:
The Overdraft amount as per Pass Book is Rs. 12,000 (absolute value of Rs. -3,000).
Overdraft as per cash book = Rs. 10,500
Interest debited by bank = Rs. 3,500
Cheques deposited but not credited by bank = Rs. 7,500
Cheques issued but not yet presented = Rs. 9,500
To find: Overdraft amount as per Pass Book
Calculation:
1. Add interest debited by bank to the Overdraft as per cash book
= Rs. 10,500 + Rs. 3,500
= Rs. 14,000
2. Deduct cheques deposited but not credited by bank
= Rs. 14,000 - Rs. 7,500
= Rs. 6,500
3. Deduct cheques issued but not yet presented
= Rs. 6,500 - Rs. 9,500
= Rs. -3,000
As the final balance is negative, it means the Pass Book is overdrawn by Rs. 3,000.
However, we need to keep in mind that the question asks for the Overdraft amount as per Pass Book, which is technically the opposite of being overdrawn. Therefore, we need to take the absolute value of the final balance.
Final Answer:
The Overdraft amount as per Pass Book is Rs. 12,000 (absolute value of Rs. -3,000).
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Bank Overdraft as per cash book is Rs. 10,500. Interest debited by bank Rs. 3,500 for which advice was not received by account holder. Cheques deposited but not credited by bank Rs. 7,500. Cheques issued but not yet presented Rs. 9,500. What is the Overdraft amount as per Pass Book?a)Rs. 12,000b)Rs. 16,000c)Rs. 5,000d)Rs. 9,000Correct answer is 'A'. Can you explain this answer?
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Bank Overdraft as per cash book is Rs. 10,500. Interest debited by bank Rs. 3,500 for which advice was not received by account holder. Cheques deposited but not credited by bank Rs. 7,500. Cheques issued but not yet presented Rs. 9,500. What is the Overdraft amount as per Pass Book?a)Rs. 12,000b)Rs. 16,000c)Rs. 5,000d)Rs. 9,000Correct answer is 'A'. 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 Overdraft as per cash book is Rs. 10,500. Interest debited by bank Rs. 3,500 for which advice was not received by account holder. Cheques deposited but not credited by bank Rs. 7,500. Cheques issued but not yet presented Rs. 9,500. What is the Overdraft amount as per Pass Book?a)Rs. 12,000b)Rs. 16,000c)Rs. 5,000d)Rs. 9,000Correct answer is 'A'. 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 Overdraft as per cash book is Rs. 10,500. Interest debited by bank Rs. 3,500 for which advice was not received by account holder. Cheques deposited but not credited by bank Rs. 7,500. Cheques issued but not yet presented Rs. 9,500. What is the Overdraft amount as per Pass Book?a)Rs. 12,000b)Rs. 16,000c)Rs. 5,000d)Rs. 9,000Correct answer is 'A'. Can you explain this answer?.
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Solutions for Bank Overdraft as per cash book is Rs. 10,500. Interest debited by bank Rs. 3,500 for which advice was not received by account holder. Cheques deposited but not credited by bank Rs. 7,500. Cheques issued but not yet presented Rs. 9,500. What is the Overdraft amount as per Pass Book?a)Rs. 12,000b)Rs. 16,000c)Rs. 5,000d)Rs. 9,000Correct answer is 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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