Multiple Choice Questions on Overdraft as per Cash book is Rs 20 000 Cheques issued but not presented for payment Rs 5000 Bank ch........... for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Overdraft as per Cash book is Rs 20 000 Cheques issued but not presented for payment Rs 5000 Bank ch...........

General Accounting Principles Rectification of Errors
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    Overdraft as per Cash book is Rs. 20,000. Cheques issued but not presented for payment Rs. 5000. Bank charges deducted by bank Rs. 200.Balance as per passbook is-

    Bank overdraft 15,200

    Correct Answer

    Bank balance 15,200

    Incorrect Answer

    Bank overdraft -14,800

    Incorrect Answer

    None of the above

    Incorrect Answer
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    Explanation:

    Overdraft – Rs 20,000
    Cheques issued but not presented for payment +5000
    Bank charges -200
    Bank overdraft = -20,000 +5,000-200= Rs. 15,200

    By: Munesh Kumari
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    LOVE JAJODIA

    cheque issued but not presented must not be reflected in pass book will be accounted only in cash book

    0 0 reply

    Ankur sharma

    We are preparing Bank Reconciliation statement(BRS) & the treatments given in the answer are for BRS, so we will treat cheques issued but not presented for payment by adding them in BRS

     0 0 reply
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