PRC-1 · Chapter 9 · Question 81 of 100
The bank column of a cash book showed a debit balance of Rs. 12,000. Unpresented cheques were Rs. 4,000. Uncleared lodgements were Rs. 3,000. A bank error wrongly credited the account by Rs. 1,000. What is the bank statement balance?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Rs. 14,000 (Favorable)
Explanation
CB (12,000) + Unpresented (4,000) - Uncleared (3,000) + Bank Error Credit (1,000) = Rs. 14,000.
More Bank Reconciliations MCQs
- Q83A cheque for Rs. 600 deposited into the bank was incorrectly recorded as Rs. 6,000 in the cash book. What is the correct adjusting entry?
- Q84A payment of Rs. 800 was incorrectly recorded as Rs. 80 in the cash book. What is the correct adjusting entry?
- Q85A payment of Rs. 800 was incorrectly recorded as Rs. 8,000 in the cash book. What is the correct adjusting entry?
- Q86A Bank Reconciliation Statement is normally prepared:
- Q87In the context of bank reconciliations, a bank overdraft means: