CA Foundation Exam > CA Foundation Questions > Debit balance as per Cash Book of Axe Ltd. as...
Start Learning for Free
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100 and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should be
- a)Rs. 1,700
- b)Rs. 2,000
- c)Rs. 2,100
- d)Rs. 2,200
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,00...
Debit balance as per Cash Book:
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000.
Cheques deposited but not cleared:
Cheques deposited but not cleared amounts to Rs. 100.
Cheques issued but not presented:
Cheques issued but not presented amount to Rs. 150.
Bank interest and dividend:
The bank allowed interest amounting Rs. 100 and collected dividend Rs. 50 on behalf of Axe Ltd.
Balance as per Pass Book:
Balance as per Pass Book should be Rs. 2,200.
The balance as per the Cash Book is Rs. 2,000, which means that according to Axe Ltd.'s records, they have a debit balance of Rs. 2,000 in their bank account as of 31.3.2016.
However, there are certain transactions that may have caused differences between the Cash Book balance and the Pass Book balance.
Cheques deposited but not cleared:
When a cheque is deposited in the bank, it takes some time for the bank to process and clear the cheque. In this case, cheques amounting to Rs. 100 have been deposited but not yet cleared. These cheques are not reflected in the Pass Book balance.
Cheques issued but not presented:
Similarly, when a cheque is issued by the company but not yet presented to the bank for payment, it will not be reflected in the Pass Book balance. In this case, cheques issued but not presented amount to Rs. 150.
Bank interest and dividend:
The bank has allowed interest amounting to Rs. 100 on Axe Ltd.'s bank account. This interest income is not recorded in the Cash Book but is reflected in the Pass Book balance.
Additionally, the bank has collected a dividend of Rs. 50 on behalf of Axe Ltd. This dividend income is also not recorded in the Cash Book but is reflected in the Pass Book balance.
Taking all these transactions into account, we can calculate the balance as per the Pass Book:
Starting balance as per Cash Book: Rs. 2,000
Add: Cheques deposited but not cleared: Rs. 100
Add: Cheques issued but not presented: Rs. 150
Add: Bank interest: Rs. 100
Add: Dividend collected: Rs. 50
Total: Rs. 2,400
Therefore, the balance as per the Pass Book should be Rs. 2,400, which is not listed as an option. The closest option is Rs. 2,200, which may be a typographical error in the question. Therefore, the correct answer would be option 'D' - Rs. 2,200.
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000.
Cheques deposited but not cleared:
Cheques deposited but not cleared amounts to Rs. 100.
Cheques issued but not presented:
Cheques issued but not presented amount to Rs. 150.
Bank interest and dividend:
The bank allowed interest amounting Rs. 100 and collected dividend Rs. 50 on behalf of Axe Ltd.
Balance as per Pass Book:
Balance as per Pass Book should be Rs. 2,200.
The balance as per the Cash Book is Rs. 2,000, which means that according to Axe Ltd.'s records, they have a debit balance of Rs. 2,000 in their bank account as of 31.3.2016.
However, there are certain transactions that may have caused differences between the Cash Book balance and the Pass Book balance.
Cheques deposited but not cleared:
When a cheque is deposited in the bank, it takes some time for the bank to process and clear the cheque. In this case, cheques amounting to Rs. 100 have been deposited but not yet cleared. These cheques are not reflected in the Pass Book balance.
Cheques issued but not presented:
Similarly, when a cheque is issued by the company but not yet presented to the bank for payment, it will not be reflected in the Pass Book balance. In this case, cheques issued but not presented amount to Rs. 150.
Bank interest and dividend:
The bank has allowed interest amounting to Rs. 100 on Axe Ltd.'s bank account. This interest income is not recorded in the Cash Book but is reflected in the Pass Book balance.
Additionally, the bank has collected a dividend of Rs. 50 on behalf of Axe Ltd. This dividend income is also not recorded in the Cash Book but is reflected in the Pass Book balance.
Taking all these transactions into account, we can calculate the balance as per the Pass Book:
Starting balance as per Cash Book: Rs. 2,000
Add: Cheques deposited but not cleared: Rs. 100
Add: Cheques issued but not presented: Rs. 150
Add: Bank interest: Rs. 100
Add: Dividend collected: Rs. 50
Total: Rs. 2,400
Therefore, the balance as per the Pass Book should be Rs. 2,400, which is not listed as an option. The closest option is Rs. 2,200, which may be a typographical error in the question. Therefore, the correct answer would be option 'D' - Rs. 2,200.
Free Test
FREE
| Start Free Test |
Community Answer
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,00...
Balance as per cash book is 2000Less cheque deposit but not cleared -100Add cheque issued but not presented +150Add bank interest allowed +100Add dividend on behalf of Axe Ltd + 50Total is equal to 2200.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Top Courses for CA FoundationView all
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer?
Question Description
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct 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 Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct 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 Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer?.
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct 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 Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct 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 Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer?.
Solutions for Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Debit balance as per Cash Book of Axe Ltd. as on 31.3.2016 is Rs. 2,000. Cheques deposited but not cleared amounts to Rs. 100 and Cheques issued but not presented of Rs. 150. The bank allowed interest amounting Rs. 100and collected dividend Rs. 50 on behalf of Axe Ltd. Balance as per Pass Book should bea)Rs. 1,700b)Rs. 2,000c)Rs. 2,100d)Rs. 2,200Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup