When will the cash Book have a Credit Balance?
Answer Posted / sunilkumarsuresh
Cash Book May Come in Credit Balance.Cash Book is Nothing
But Recording of Arithemetical Transactions
If the Arithemetical Balance is Not Matching with the
Physical Cash Balance ,Cash Book May Come to Credit
Balance,we have to Maintain the Debit Balance by Carry
forwarding the amount to control accounts such as Cash
Difference Account
TanQ
Is This Answer Correct ? | 12 Yes | 7 No |
Post New Answer View All Answers
April-25 Paid to Mr. Y in full Settlement by Cheque Rs. 4800. April-26 Received a cheque from Mr. B in full settlement Rs. 4900.
From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast
What are mis reports and how do you prepare it?
Volga is a large manufacturing company in the private sector. In 2007 the company had a gross sale of Rs.980.2 crore. The other financial data for the company are given below: Items Rs. In crore Net worth 152.31 Borrowing 165.47 EBIT 43.17 Interest 34.39 Fixed cost (excluding interest) 118.23 Calculate: a. Debt equity ratio b. Operating leverage c. Financial leverage d. Combined leverage. Interpret your results and comment on the Volga’s debt policy
A company primarily operating from own land, takes on rent building for staff quarters. Whether rent paid on such staff quarters qualifies as capital investment?
how to prepare for accontant examinations
What is the difference between lc and bg(letter of credit
how can i settle the party ac with cr & dr
How to pass workscontract sale invoice which includes WCT & VAT.
What is difference between Cash Flow and fund flow
Tell me what is an over accrual?
How to calculate Gratuity & when it's applicable to employee after three years or Five years?...
WHAT IS NPF IN ACCOUNTS. AN ENTRY IN BANK STATEMENT" NPF SOME NAME XXXX DR SIDE" PLEASE ANSWER WHAT IS NPF?
What we have to post entry for payroll processing ? (Indian payroll)
shyam consigned 200000 unit @ rs 5/-each to mr ram and paid freight and insurance amounting to rs 100000.ram spent further following amount: 1) insurance rs 5000 2) godown rent rs 4000 3) clearing rs 6000 2000 unit were damages during transits due to heavy rains. Ram sold 100000 unit @rs 10 per unit . ram realisec solvage value of damage unit rs .2000 ram is get 5% commission on sale determine the abnormal loss?