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Standard XI

Accountancy

Cheques Directly Deposited by Customers

Direct collec...

Question

Direct collections from a bank are to be ___ in cash book.

Added

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Subtracted

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Not required to be adjusted

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None of the above

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Solution

The correct option is A
Added

Direct deposits by customers are always added in cash book because such transactions do not appear in cash book but they are present in the bank statement.

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Similar questions

Q. Bank collected dividend of Rs.

25, 000

on behalf of customer which was not recorded in cash book.
In respect of the above given transaction which of the following treatment is correct for preparation of bank reconciliation statement?
(I) If BRS is prepared without adjusting cash book and the balance as per cash book is starting point then Rs.

25, 000

will be subtracted.
(II) If BRS is prepared with adjusted cash book then Rs.

25, 000

will be debited to the adjusted cash book.
(III) If BRS is prepared without adjusting cash book and the balance as per cash book is starting point then Rs.

25, 000

will be added.
(IV) If BRS is prepared with adjusted cash book the Rs.

25, 000

will be credited to the adjusted cash book.

Q. Bank balance as per cash book (Dr.) of NZ & Co. was Rs.

1, 050

-Bank charges not recorded in cash book was Rs.

180

.
-Rs.

750

was directly paid by customer into bank was not recorded in cash book.
-Debit side of cash book was undercast by Rs.

100

-Cheque deposited for Rs.

700

was not credited in pass book.
-Out of cheques of Rs.

900

issued but not presented for payments.
If BRS is prepared after adjusting cash book, balance as per Adjusted Cash book should be Rs.________ and balance as pass book should be Rs.__________

While checking the bank statement against the cash book, you find that a direct debit for rent received from a tenant is missing from the cash book. How this is adjusted in the books?

The bank collected a note receivable on the behalf of a company amounting to Rs 5,500 & it includes the interest of Rs 500. Bank also charged a collection fee of Rs 100. What adjustment shall be done in cash book while preparing BRS?

Q. Bank charges amounting to

R s .5, 000

was not entered in the cash book. Identify the correct adjustment in cash book ___________.

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Direct collections from a bank are to be ___ in cash book.

The correct option is A Added Direct deposits by customers are always added in cash book because such transactions do not appear in cash book but they are present in the bank statement.

The correct option is A
Added

Direct deposits by customers are always added in cash book because such transactions do not appear in cash book but they are present in the bank statement.