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When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:
- a)Added
- b)Deducted
- c)Not required to be adjusted
- d)None of the above
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
When preparing a Bank Reconciliation Statement, if you start with a de...
Addded
because when chaque is issued amout is subtracted from cash book (bank column) but cheque is not deposited in bank therefore the amount is not deducted from bank and we have to reconcile it and starting point is cash book that means pass book is constant only cash book will move
so when cheque issued cash book is less then pass book so add the in cash book to reach the pass book
because when chaque is issued amout is subtracted from cash book (bank column) but cheque is not deposited in bank therefore the amount is not deducted from bank and we have to reconcile it and starting point is cash book that means pass book is constant only cash book will move
so when cheque issued cash book is less then pass book so add the in cash book to reach the pass book
Community Answer
When preparing a Bank Reconciliation Statement, if you start with a de...
- When preparing a Bank Reconciliation Statement, starting with a debit balance as per the Cash Book indicates a positive balance from the business's perspective.
- Cheques issued but not presented mean funds have not yet been deducted from the bank account.
- To reconcile, add these cheques back, as they decrease the bank balance but not the Cash Book balance.
- Therefore, you should add the amount of cheques issued but not presented to the Cash Book balance.
- Cheques issued but not presented mean funds have not yet been deducted from the bank account.
- To reconcile, add these cheques back, as they decrease the bank balance but not the Cash Book balance.
- Therefore, you should add the amount of cheques issued but not presented to the Cash Book balance.
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When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:a)Addedb)Deductedc)Not required to be adjustedd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?
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When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:a)Addedb)Deductedc)Not required to be adjustedd)None of the aboveCorrect answer is option '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 When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:a)Addedb)Deductedc)Not required to be adjustedd)None of the aboveCorrect answer is option '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 When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:a)Addedb)Deductedc)Not required to be adjustedd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:a)Addedb)Deductedc)Not required to be adjustedd)None of the aboveCorrect answer is option '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 When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:a)Addedb)Deductedc)Not required to be adjustedd)None of the aboveCorrect answer is option '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 When preparing a Bank Reconciliation Statement, if you start with a debit balance as per the Cash Book, cheques issued but not presented within the period should be:a)Addedb)Deductedc)Not required to be adjustedd)None of the aboveCorrect answer is option 'A'. Can you explain this answer?.
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