What is debit balance and credit balance as per cash book and bank pass book?

Asked by Topperlearning User | 15th Jul, 2016, 04:31: PM

Expert Answer:

According to cash book, debit balance means amount lying deposited in a bank and credit balance means amount withdrawn from the bank.

According to bank pass book, debit balance means excess amount withdrawn from bank and thus payable to bank and credit balance means amount lying deposited in the bank.  

Answered by  | 15th Jul, 2016, 06:31: PM