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Cheques Issued but Not Presented

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Question

The company made a purchases of Rs 3,30,000 on credit in the month of May. The creditor was paid one cheque of Rs 2,00,000 in the month of June & another cheque of Rs 1,30,000 in the month of July. Cheque issued in the month of July was presented for payment in August. In which of the following months will there be a difference in bank account as per cash book & bank balance as per bank pass book?

A

May

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B

June

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C

July

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D

August

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Solution

The correct option is C
July

Difference shall arise in the month of July in which the cheque of Rs 1,30,000 was deducted from cash book but not from bank.

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A cheque of Rs 10,000 was deposited in the bank but due to updation in the software, this cheque could not be cleared by bank till the last day of the month. Will the balance as per bank`s pass book & cash book tally?

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31

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. A comparison of pass book and cash book revealed the following:
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