UPSC Exam  >  UPSC Questions  >  On 31st March, 2024 the pass book of Shes Pap... Start Learning for Free
On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338
The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024
The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due date
The bank has charged 13 as its commission and has allowed interest 110 on the balan?
Most Upvoted Answer
On 31st March, 2024 the pass book of Shes Papun shows the credit balan...
Final Balance Calculation for Shes Papun
To determine the actual cash balance in Shes Papun's passbook on 31st March 2024, we need to consider the following adjustments:
Initial Balance
- The passbook shows a credit balance of 1,338.
Adjustments to Consider
- Cheques and Drafts Sent: Cheques and drafts amounting to 1,000 were sent to the bank but not credited.
- Outstanding Cheque: A cheque of 650 was drawn but not presented until 5th April 2024.
- Bill Payable: A bill payable of 1,000 was paid by the bank but not recorded in the cash book.
- Dishonoured Bill Receivable: A dishonoured bill receivable of 500 that was discounted with the bank.
- Bank Commission: The bank charged a commission of 13.
- Interest Allowed: The bank allowed interest of 110 on the balance.
Calculating the Adjusted Balance
1. Starting Balance: 1,338
2. Add Cheques Sent: + 1,000 (not yet credited)
3. Subtract Outstanding Cheque: - 650 (not yet presented)
4. Subtract Bill Payable: - 1,000 (not recorded)
5. Subtract Dishonoured Bill: - 500 (not collected)
6. Subtract Bank Commission: - 13
7. Add Interest Allowed: + 110
Final Calculation
- Adjusted Balance = 1,338 + 1,000 - 650 - 1,000 - 500 - 13 + 110 = 285
Conclusion
The adjusted balance for Shes Papun as of 31st March 2024 is 285. This reflects the true financial position after accounting for all outstanding items and bank activities.
Explore Courses for UPSC exam

Similar UPSC Doubts

Top Courses for UPSC

On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan?
Question Description
On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan?.
Solutions for On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.
Here you can find the meaning of On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan? defined & explained in the simplest way possible. Besides giving the explanation of On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan?, a detailed solution for On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan? has been provided alongside types of On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan? theory, EduRev gives you an ample number of questions to practice On 31st March, 2024 the pass book of Shes Papun shows the credit balance of 1338The cheques and drafts were sent to the bank but not collected and credited amounted to and a chequr drawn for 650 were not presented for payment till 5th April, 2024The bank has paid a bill payable anusunted to 1,000 but it has not been entered in the can ho and a bill receivable of 500 which was discounted with the bank, was dishonoured by the on due dateThe bank has charged 13 as its commission and has allowed interest 110 on the balan? tests, examples and also practice UPSC tests.
Explore Courses for UPSC exam

Top Courses for UPSC

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev