PRC-1 · Chapter 9 · Question 33 of 100
The balance as per Bank Statement is Rs. 5,000 (Overdraft). Unpresented cheques are Rs. 2,000. Uncredited lodgments are Rs. 4,000. What is the balance as per Cash Book?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Rs. 3,000 (Overdraft)
Explanation
Bank balance is -5,000. Formula to find CB: Bank - Unpresented + Uncredited = CB. -5,000 - 2,000 + 4,000 = -3,000. Thus, the Cash Book has a Rs. 3,000 Overdraft.
More Bank Reconciliations MCQs
- Q35The bank statement shows a direct debit of Rs. 1,200 for electricity. To update the records, the accountant should:
- Q36A customer deposited Rs. 5,000 directly into the bank account. The bank statement shows this, but the cash book does not. What is the…
- Q37Bank interest charged on an overdraft is recorded in the cash book by:
- Q38A cheque for Rs. 8,500 was deposited into the bank but was recorded in the cash book as Rs. 5,800. What is the entry to correct the cash…
- Q39A cheque for Rs. 4,000 was issued to a supplier and recorded in the cash book, but it was not signed by the authorized signatory and was…