List 4 items having an effect of higher balance in the cash book.
Asked by Topperlearning User | 15th Jul, 2016, 04:31: PM
deposited by the firm but not yet collected by the bank.
Charges/interest paid debited in the pass book.
deposited returned dishonoured and not recorded in the cash book.
made directly by the bank under the standing instructions of the firm.
Answered by | 15th Jul, 2016, 06:31: PM
- What is the need and purpose of preparing a bank reconciliation statement?
- Explain in brief the reason for the difference caused by “cheques paid into the bank but not yet collected” with an example.
- What is bank reconciliation statement and why is it prepared?
- Explain the causes/reasons for the disagreement between the cash book balance and the passbook balance.
- Explain briefly 4 reasons for disagreement between the cash book balance and the passbook balance caused because of time gap.
- Give two examples of errors committed by the firm in recording transactions in the cash book.
- Give two examples of errors committed by the bank in recording transactions in the passbook.
- List 4 items having an effect of higher balance in the passbook.
- What is debit balance and credit balance as per cash book and bank pass book?
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