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                     Semester Fall 2015

                             MGT-101 (Financial Accounting)

                                 Assignment no:2

                            Due Date 26th January 2016

                           

Q-1

The debit balance of bank statement as on 31st December 2014 was Rs. 10,000. Cheques of Rs. 3,000 sent to customers had been entered in depositor’s cash book but did not appear in bank statements on 31st December 2014.

Required: Calculate the balance as per cash book on 31st December 2014.

Balance As Per Bank Statement (Debit)                  Rs. 10,000

Add:    Cheques                                                        Rs.   3,000 
         Balance As Per Cash Book                               Rs. 13,000

                                                                                          

Q-2

The favorable balance of bank statement as on 31st December 2014 was Rs. 12,000. Cheques of Rs. 4,000 paid into the bank had been entered in depositor’s cash book but did not appear in bank statements on 31st December 2014.

Required: Calculate the balance as per cash book on 31st December 2014.

Balance As Per Bank Statement (Credit)                              Rs. 12,000

Add:  Cheques                                                                                    Rs.  4,000 
           Balance As Per Cash Book                                         Rs. 16,000
                                                                                                          


Q-3

Balance as per cash book of a merchant as on 31st December 2014 was Rs. 20,000. Following causes of disagreement was discovered on receipt of bank statement.

1. A cheque of Rs. 500 issued but not yet presented for payment

2. Cheque of Rs. 545 sent to a customer has been recorded in cash book as Rs. 445.

Required: Calculate the balance as per bank statement on 31st December 2014.

Balance As Per Cash Book (Debit)               Rs. 20,000
Add: Un Presented  Cheque                         Rs.      500
Add Cheque of Rs. 545 sent to a customer Rs.    100

has  been recorded in cash book as Rs. 445.

Balance As Per Bank Statement                   Rs. 20600

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