PRC-1 · Chapter 9 · Question 94 of 100
The bank statement shows a debit balance (overdraft) of Rs. 10,000. The cash book shows a credit balance (overdraft) of Rs. 12,000. Unpresented cheques are Rs. 4,000. What is the value of the uncleared lodgements?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Rs. 2,000
Explanation
Formula: CB + Unpresented - Uncleared = Bank. -12,000 + 4,000 - Uncleared = -10,000. -8,000 - Uncleared = -10,000. Uncleared = Rs. 2,000.
More Bank Reconciliations MCQs
- Q96Which of the following is the correct double entry for recording cash deposited into the bank?
- Q97If a cheque received from a customer is deposited into the bank on the same day, what is the initial double entry?
- Q98To adjust for a cheque that was returned marked 'NSF' (Not Sufficient Funds) by the bank, the accountant must:
- Q99What does the letter 'C' in the folio column of a cash book indicate?
- Q100Reconciling items like unpresented cheques and uncleared lodgements in a Bank Reconciliation Statement are naturally cleared when: