CBSE Class 11-commerce Answered
What do you understand by the following favourable balance as per cash book and favourable balance as per cash book
Asked by wa9673808 | 20 Sep, 2019, 07:47: PM
Expert Answer
Cash book is a book which maintains a record of all the cash transactions.
All cash receipts are recorded on the debit side and all cash payments are recorded on the credit side.
An excess of debit side total over credit side total is known as a debit balance of cash. Since, cash received is more than cash paid, such excess of debit side total over credit side total is known as favourable balance in the cash book.
On the other hand, excess of credit side total over debit side total is known as credit balance of cash or unfavourable balance in cash book as the total of cash payments is more than the total of cash receipts.
Answered by Surabhi Gawade | 21 Sep, 2019, 07:13: PM
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