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When the balance as per Pass Book is the starting point, uncollected cheques are:
  • a)
    added  in the bank reconciliation statement
  • b)
    subtracted in the bank reconciliation statement
  • c)
    not required to be adjusted in the bank reconciliation statement.
  • d)
    neither of the above.
Correct answer is option 'A'. Can you explain this answer?
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When the balance as per Pass Book is the starting point, uncollected c...
Explanation:
The correct answer is A: added in the bank reconciliation statement. Here's why:
1. Bank Reconciliation Statement: The bank reconciliation statement is prepared to reconcile the differences between the bank's balance as per the passbook and the balance as per the company's records.
2. Uncollected Cheques: Uncollected cheques are the cheques issued by the company but have not yet been presented for payment at the bank.
3. Treatment in Bank Reconciliation Statement: When the balance as per the passbook is taken as the starting point, uncollected cheques need to be added to the passbook balance in the bank reconciliation statement.
4. Reason for Adding: The uncollected cheques represent the company's funds that have been deducted from the passbook balance but have not yet been debited to the company's bank account. Therefore, they need to be added back to the passbook balance to reconcile the two balances.
To summarize, uncollected cheques are added in the bank reconciliation statement when the balance as per the passbook is the starting point.
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When the balance as per Pass Book is the starting point, uncollected c...
A is the correct answer
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When the balance as per Pass Book is the starting point, uncollected cheques are:a)added in the bank reconciliation statementb)subtracted in the bank reconciliation statementc)not required to be adjusted in the bank reconciliation statement.d)neither of the above.Correct answer is option 'A'. Can you explain this answer?
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When the balance as per Pass Book is the starting point, uncollected cheques are:a)added in the bank reconciliation statementb)subtracted in the bank reconciliation statementc)not required to be adjusted in the bank reconciliation statement.d)neither of the above.Correct 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 the balance as per Pass Book is the starting point, uncollected cheques are:a)added in the bank reconciliation statementb)subtracted in the bank reconciliation statementc)not required to be adjusted in the bank reconciliation statement.d)neither of the above.Correct 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 the balance as per Pass Book is the starting point, uncollected cheques are:a)added in the bank reconciliation statementb)subtracted in the bank reconciliation statementc)not required to be adjusted in the bank reconciliation statement.d)neither of the above.Correct answer is option 'A'. Can you explain this answer?.
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