CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Receipts and Payments Account

Entry in debi...

Question

Entry in debit side of bank pass book implies ____________.

A

Cash withdrawn

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

B

Cash/ cheque deposited in Bank

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Business Receipts

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Personal Receipts

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Cash withdrawn
When cash is withdrawn from Bank the entry for the same is as follows :
Cash A/c. ........................... Dr.
To Bank A/c.
So the bank column of the cash book would be credited with the amount withdrawn, but as the pass book is an opposite record of the cash book, in the pass book the said entry for cash withdrawal would be debited.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Mr. X had two accounts, one current account and another saving bank A/c in a nationalized bank. He drew a cheque of

R s . 5, 000

on saving bank but credited to Current A/c in his cash book. Similarly a cheque of

R s . 2, 000

deposited in current A/c was debited to Saving Bank A/c. What would be effect of these errors in Bank pass books/ Bank statement of these two A/cs?

Q. Following information has been given by Rajendra. Prepare a Bank Reconciliation Statement as on 31st Dec. 2016, showing balance as per cash book:
(i) Debit balance shown by the pass book ₹ 17,800.
(ii) Cheques of ₹ 21,600 were issued in the last week of December, but of these ₹ 14,800 only were presented for payment.
(iii) Cheques of ₹ 10,750 were deposited in bank, out of them a cheque of ₹ 4,200 was credited in the first week of January, 2017.
(iv) A cheque of ₹ 1,200 was debited in the cash book but was not deposited in bank.
(v) Insurance premium paid by bank ₹ 1,450.
(vi) A bill of exchange for ₹ 6,200 which was discounted with bank, returned dishonoured but no entry was made in the cash book.
(vii) Bank charges and interest charged by bank are ₹ 350.

Q. Bank column of the cash book showed a debit balance of Rs. 49,000 on 30th June, 2017. Bank Statement or Pass Book showed a credited balance of Rs. 37,400. Entries in the Cash Book and Pass book were compared and gthe following difference were noticed:
(i) Cheques of Shyam Rs. 9,000 and of Mohan Rs. 15,000 were deposited but were not collected up to 30th June, 2017.
(ii) Ramesh, a debtor, deposited a cheque of Rs. 8,000 directly into the bank.
(iii) Bank allowed an interest of Rs. 500.
(iv) Cheque for Rs. 10,000 issued to Ramesh was not presented for payment.
(v) Bank debited the account by Rs. 6,000, being insurance premium paid as per standing instructions.
(vi) Bank debited the account by Rs. 100, being bank charges.
You are required to prepare a Bank Reconciliation Statement as on 30th June, 2017.

Q. Prepare Bank Reconciliation Statement from the following particulars as on 31st March, 2018 when Pass Book shows a debit balance of ₹ 2,500:
(i) Cheque issued for ₹ 5,000 but up to 31st March, 2018 only ₹ 3,000 could be cleared.
(ii) Cheques deposited for ₹ 5,500 but cheques of ₹ 500 were collected on 10th April, 2018.
(iii) A discounted Bill of Exchange dishonoured ₹ 2,000.
(iv) A cheque of ₹ 300 debited in Cash Book but omitted to be banked.
(v) Interest allowed by bank ₹ 400 but no entry was passed in the Cash Book.

Q. From the following particulars prepare bank reconciliation statement as on 31st March 2015:
(a) Debit balance as per Cash Book ₹ 1,500.
(b) A cheque for ₹ 2,000 issued in favour of X has not been presented for payment.
(c) A bill for ₹ 4,000 retired by bank under a rebate of ₹ 120. The full amount of the bill was credited in Cash Book.
(d) A cheque for ₹ 750 deposited in bank has been dishonoured.
(e) A sum of ₹ 3,600 deposited in the bank has been credited as ₹ 360 in the Pass Book.
(f) Payment side of Cash Book has been undercast by ₹ 100.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Financial Statements of NPO

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Receipts and Payments Account

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon