Pass Book is ___________ of account holder's transaction with the Bank.

An extract

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A Balance Sheet

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A balance

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A mode

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Solution

The correct option is A An extract
Balance Sheet of a bank is a collation of any accounts maintained by the customers, hence pass book can never be a balance sheet neither can it be a balance. 'Mode' can be online banking or offline banking and has nothing to do with the pass book.
Pass book is only an extract of all the transactions undertaken by the customers during the period.

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Q. Pass book is a/an ____________of account holder's transaction with the bank.

Q. A Bank Pass Book is a small booklet in which the details of all ledger entries in respect of banking transactions appearing in the books of bank are entered for the knowledge of account holder.

If a transaction is completely omitted from the books of accounts, will it affect the agreement of a trial balance?

The cash book shows a balance of Rs.11,000 which was different from the balance as per bank statement. The difference is found to be due to a credit entry in pass book amounting to Rs.2,000 for direct payment by a customer in bank account. What would be the balance as per bank pass book?

Q. From the following Trial Balance extracted from the books of S. Sujan Singh, prepare a Trading and Profit & Loss Account for the year ended 31st March, 2016 and a Balance Sheet as at that date:

	Dr. (₹)	Cr. (₹)
Capital Account		90,000
Drawings Account	6,480
Land and Buildings	25,000
Plant & Machinery	14,270
Furniture & Fixtures	1,250
Carriage (Inwards)	4,370
Wages	21,470
Salaries	4,670
Bad-Debts Provision (as on 1st April, 2015)		2,470
Sales		91,230
Sales Returns	1,760
Bank Charges	140
Coal, Gas and Water	720
Rates & Taxes	840
Discount Account (Balance)		120
Purchases	42,160
Purchases Returns		8,460
Bills Receivable	1,270
Trade Expenses	1,990
Sundry Debtors	37,800
Sundry Creditors		12,170
Stock (1st April, 2015)	26,420
Miscellaneous Receipt		500
Fire Insurance	490
Cash at Bank	13,000
Cash in Hand	850
	2,04,950	2,04,950

Adjustments:-
1. Carry forward the following unexpired amounts:-

(i) Fire Insurance	₹ 125
(ii) Rates and Taxes	₹ 240

2. Transfer to Building Account ₹ 3,000 from purchases and ₹ 2,000 from wages, representing cost of material and labour spent on additions to Building made during the year.
3. Charge Depreciation on Land and Buildings at 2.5% and on Plant & Machinery at 10%.
4. Make a Provision of 5% on Sundry Debtors for Bad-debts.
5. Charge 5% Interest on Capital but not on Drawings.
6. The value of Stock as on 31st March, 2016 was ₹ 29,390.

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