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Give some reasons for disagreement of the balances between
cash and pass book.
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Answer / ullas patil kulkarni
The disagrement of the balance between cash and pass book
is the late entry made by the banks and the individual who
maintains cash book.
Eg. cheque paid but not credited in the pass book?
This entry is passed in the cash book imediately when he
issue the cheque but in the pass book this entry is passed
only when bank credit the amount to the Account.
| Is This Answer Correct ? | 20 Yes | 3 No |
Answer / mubin memon
Reasons
i) Cheques issued but not present into bank for the Payment / Unpresented Cheques / Outstanding Cheques / Unpaid Cheques
ii) Cheques deposited but not shown in the Bank Statement / Uncleared Cheques / Uncredited Cheques / Cheques in Transits/ Cash deposited on Last day not shown in Bank Statements/ Deposits in Transits
iii) Bank Errors As per Situation
iv) Direct Deposits by Customer
v) Bank / Collection / Service / Cheque Book Charges or Zakaat deducted or debited by bank not recorded in Cash Book
vi) Markup / Interest / Profit / Credit given by Bank not recorded in Cash Book
vii) Collection of Income From Property / Dividend / Bill of Exchange / Promissory Notes by Bank not recorded in Cash Book
viii) Payment of Insurance Premium / Subscriptions / Bill of Exchange / Promissory Notes by Bank not recorded in Cash Book
ix) Cheques Dishonoured (Bounced)
x) Cash Book Errors
| Is This Answer Correct ? | 13 Yes | 3 No |
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DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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