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On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-
- a)As Bank Overdraft Rs. 3,159
- b)As Cash at Bank Rs. 7,074
- c)As Bank Overdraft Rs. 7,074
- d)As Cash at Bank Rs. 3,159
Correct answer is option 'C'. Can you explain this answer?
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On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Bala...
Answer is C -bank overdraft 7074 because in the balance sheet the balance shown by cash book is to be shown even if it does not matchwith passbook because all the items of balance sheet must match with business' s documents/vouchers/subsidiary books etc. As about difference between passbook and cash book the BRS may be given below the balance sheet.
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On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Bala...
Calculation of Bank Balance as on 31.3.09:
Balance as per Cash Book (credit) = Rs. 7,074
Balance as per Bank Statement (debit) = Rs. 3,159
The difference between the two is due to cheques issued but yet not presented for payment. Hence, the correct Bank Balance as on 31.3.09 would be:
As Bank Overdraft Rs. 7,074
Explanation:
A Bank Overdraft is when a bank account balance goes below zero, resulting in a negative balance. In this case, the balance as per Bank Statement is in debit, indicating an overdraft. This is due to the cheques issued but not yet presented for payment. Hence, the correct Bank Balance as on 31.3.09 would be shown in the Balance Sheet as Bank Overdraft Rs. 7,074.
Balance as per Cash Book (credit) = Rs. 7,074
Balance as per Bank Statement (debit) = Rs. 3,159
The difference between the two is due to cheques issued but yet not presented for payment. Hence, the correct Bank Balance as on 31.3.09 would be:
As Bank Overdraft Rs. 7,074
Explanation:
A Bank Overdraft is when a bank account balance goes below zero, resulting in a negative balance. In this case, the balance as per Bank Statement is in debit, indicating an overdraft. This is due to the cheques issued but not yet presented for payment. Hence, the correct Bank Balance as on 31.3.09 would be shown in the Balance Sheet as Bank Overdraft Rs. 7,074.
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On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. Can you explain this answer?
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On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. 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 On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. 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 On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. Can you explain this answer?.
On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. 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 On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. 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 On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. Can you explain this answer?.
Solutions for On 31.3.09 the balance of the cash book is Rs. 7,074 (credit) and Balance as per Bank statement is Rs. 3,159 (debit). On scrutiny it was found that the difference was due to cheques issued but yet not presented for payment. The Bank Balance as on 31.3.09 to be shown in Balance Sheet as :-a)As Bank Overdraft Rs. 3,159b)As Cash at Bank Rs. 7,074c)As Bank Overdraft Rs. 7,074d)As Cash at Bank Rs. 3,159Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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