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Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150. The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:
- a)Rs. 1,600
- b)Rs. 1,450
- c)Rs. 1,850
- d)Rs. 1,650
Correct answer is option 'D'. Can you explain this answer?
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Debit balance as per cash book of ABC Enterprises as on 31st March, 20...
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Debit balance as per cash book of ABC Enterprises as on 31st March, 20...
The given question relates to the reconciliation of the cash book and the pass book of ABC Enterprises. Reconciliation is the process of matching the balances of the cash book and the pass book to ensure that they are in agreement.
Given Information:
- Debit balance as per cash book on 31st March 2012 = Rs. 1,500
- Cheques deposited but not cleared = Rs. 100
- Cheques issued but not presented = Rs. 150
- Bank interest allowed = Rs. 50
- Dividend collected on behalf of ABC Enterprises = Rs. 50
To find the balance as per the pass book, we need to consider the adjustments required to reconcile the cash book balance with the pass book balance.
Adjustments for Reconciliation:
1. Cheques deposited but not cleared:
- These cheques have been recorded in the cash book but have not yet been cleared by the bank.
- As per the cash book, the balance is higher by the amount of these cheques.
- Therefore, we need to deduct the amount of these cheques from the cash book balance.
- Deduct: Rs. 100
2. Cheques issued but not presented:
- These cheques have been issued by ABC Enterprises but have not yet been presented to the bank for payment.
- As per the cash book, the balance is lower by the amount of these cheques.
- Therefore, we need to add the amount of these cheques to the cash book balance.
- Add: Rs. 150
3. Bank interest allowed:
- This is an income for ABC Enterprises and has been collected by the bank on their behalf.
- As per the cash book, this income has not been recorded.
- Therefore, we need to add the amount of bank interest to the cash book balance.
- Add: Rs. 50
4. Dividend collected on behalf of ABC Enterprises:
- This is an income for ABC Enterprises and has been collected by the bank on their behalf.
- As per the cash book, this income has not been recorded.
- Therefore, we need to add the amount of dividend collected to the cash book balance.
- Add: Rs. 50
Calculation:
Debit balance as per cash book on 31st March 2012 = Rs. 1,500
Less: Cheques deposited but not cleared (Rs. 100)
Add: Cheques issued but not presented (Rs. 150)
Add: Bank interest allowed (Rs. 50)
Add: Dividend collected (Rs. 50)
Balance as per pass book on 31st March 2012 = Rs. 1,550
Therefore, the correct answer is option (d) Rs. 1,650.
Given Information:
- Debit balance as per cash book on 31st March 2012 = Rs. 1,500
- Cheques deposited but not cleared = Rs. 100
- Cheques issued but not presented = Rs. 150
- Bank interest allowed = Rs. 50
- Dividend collected on behalf of ABC Enterprises = Rs. 50
To find the balance as per the pass book, we need to consider the adjustments required to reconcile the cash book balance with the pass book balance.
Adjustments for Reconciliation:
1. Cheques deposited but not cleared:
- These cheques have been recorded in the cash book but have not yet been cleared by the bank.
- As per the cash book, the balance is higher by the amount of these cheques.
- Therefore, we need to deduct the amount of these cheques from the cash book balance.
- Deduct: Rs. 100
2. Cheques issued but not presented:
- These cheques have been issued by ABC Enterprises but have not yet been presented to the bank for payment.
- As per the cash book, the balance is lower by the amount of these cheques.
- Therefore, we need to add the amount of these cheques to the cash book balance.
- Add: Rs. 150
3. Bank interest allowed:
- This is an income for ABC Enterprises and has been collected by the bank on their behalf.
- As per the cash book, this income has not been recorded.
- Therefore, we need to add the amount of bank interest to the cash book balance.
- Add: Rs. 50
4. Dividend collected on behalf of ABC Enterprises:
- This is an income for ABC Enterprises and has been collected by the bank on their behalf.
- As per the cash book, this income has not been recorded.
- Therefore, we need to add the amount of dividend collected to the cash book balance.
- Add: Rs. 50
Calculation:
Debit balance as per cash book on 31st March 2012 = Rs. 1,500
Less: Cheques deposited but not cleared (Rs. 100)
Add: Cheques issued but not presented (Rs. 150)
Add: Bank interest allowed (Rs. 50)
Add: Dividend collected (Rs. 50)
Balance as per pass book on 31st March 2012 = Rs. 1,550
Therefore, the correct answer is option (d) Rs. 1,650.
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Debit balance as per cash book of ABC Enterprises as on 31st March, 20...
Balance as per Cash book. 1500Add cheque issued but not presented. 150 Bank allowed on interest. 50 Divided collected. 50 _______ Total. 1750Less cheque deposited but not cleard. (100)So answer is 1650
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Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. Can you explain this answer?
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Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. 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 Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. 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 Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. Can you explain this answer?.
Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. 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 Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. 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 Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. Can you explain this answer?.
Solutions for Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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ample number of questions to practice Debit balance as per cash book of ABC Enterprises as on 31st March, 2012 was Rs. 1,500. Cheques deposited but not cleared amount to Rs. 100. Cheques issued but not presented amount to Rs. 150.The bank allowed interest amounting to Rs. 50 and collected dividend Rs. 50 on behalf of ABC Enterprises. Balance as per Pass Book as on 31st March 2012, should be:a)Rs. 1,600b)Rs. 1,450c)Rs. 1,850d)Rs. 1,650Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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