CBSE Class 11-commerce Answered
please give me the answer of (iii) question
Asked by madhavsarpanch | 02 Mar, 2020, 04:14: PM
Expert Answer
Transaction no. (iii) states that cheques of Rs.10,750 were presented to the bank of which Rs.4,200 credited in the month of April, 2019.
Impact:
- In Bank: Bank Balance has increased by Rs.6,550 (Rs.10,750-4,200) as on 31st March, 2019.
- In Cash Book: Cash Book Balance has increased by Rs.10,750 as on 31st March, 2019.
Therefore, difference of Rs.4,200 (10,750 - 6,550) is to be added in the Bank Balance to match the Cash Book Balance. However, the starting point of the Bank Reconciliation Statement is a Debit Bank Balance and therefore, this addition of Rs.4,200 will be reversed and shown as reduction in the Bank Reconciliation Statement.
Answered by Surabhi Gawade | 02 Mar, 2020, 05:37: PM
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