PRC-1 · Chapter 9 · Question 91 of 100
If the bank statement shows an overdraft of Rs. 5,000, and uncredited cheques amount to Rs. 2,000, what is the cash book balance (assuming no other items)?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Rs. 3,000 (Overdraft)
Explanation
Formula: CB - Uncredited = Bank. CB - 2,000 = -5,000. Therefore, CB = -3,000, indicating an overdraft of Rs. 3,000.
More Bank Reconciliations MCQs
- Q93If the adjusted cash book shows an overdraft of Rs. 4,000, and uncredited cheques amount to Rs. 3,000, what is the bank statement balance?
- Q94The bank statement shows a debit balance (overdraft) of Rs. 10,000. The cash book shows a credit balance (overdraft) of Rs. 12,000…
- Q95In the context of a multiple-column cash book, a 'contra entry' represents:
- 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?