The following are some of the causes of difference between the-02166
This subjective question is related to the book/course vu mgt611 Business & Labor Law. It can also be found in vu mgt611 Mid Term Solved Past Paper No. 3.
Question 1: The following are some of the causes of difference between the Cash Book and the Pass Book balances. If you start with the Cash Book (Dr.) balance in Bank Reconciliation Statement, will you add them or deduct?
- Cheques issued but yet not paid by bank.
- Cheques deposited but not credited by bank.
- Amount directly deposited into bank by a customer but not recorded in the Cash Book.
- Dividend collected by bank but not entered in Cash Book.
- Insurance premium paid by bank but not recorded in Cash Book.
- Cheque deposited but no entry was made in Cash Book.
- Bank charges debited by bank but not credited in the Cash Book
- Interest on overdraft debited by bank but not recorded in Cash Book.
- Cheque issued but wrongly debited in Cash Book
- 10. Interest credited by bank but not recorded in cash book
Answer:
Particulars | Add/Less |
1. Cheques issued but yet not paid by bank. | less |
2. Cheques deposited but not credited by bank. | less |
3. Amount directly deposited into bank by a customer but not recorded in the Cash Book. | add |
4. Dividend collected by bank but not entered in Cash Book. | add |
5. Insurance premium paid by bank but not recorded in Cash Book. | less |
6. Cheque deposited but no entry was made in Cash Book. | add |
7. Bank charges debited by bank but not credited in the Cash Book | less |
8. Interest on overdraft debited by bank but not recorded in Cash Book. | less |
9. Cheque issued but wrongly debited in Cash Book | less |
10. Interest credited by bank but not recorded in cash book | add |