The balance as per bank column of Cash Book and the Pass Book c. Favourable balance of cash book implies balance at Bank. Cash is a current asset which consists of items used in day to day financial transactions as medium of exchange. Favourable balance as per the cash book means ...balance in the bank column of the cash book. Credit. Credit Balance b. Debit Balance c. Bank Overdraft d. Adjusted Balance. A Bank Reconciliation Statement is prepared to know the causes for the difference between : a. On the other hand, the credit balance as per the cash book indicates bank overdraft. D. A credit balance in the Pass Book indicates excess of deposits over withdrawals. 3. 4,500 were credited by bank. B. Debit balance of cash book. When cash is withdrawn from the bank _____ the customer account. The balance on the debit side of the bank column of cash book indicates? Favorable balance of cash book implies that. Debit Balance. Which of the following will not require adjustment in the cash book balance? D. 1. A) Credit Balance B) Debit Balance C) Bank Overdraft D) Adjusted Balance. Answer. Such a balance will be a credit balance as per the passbook. The favourable balance as per cash book means when the deposits made by the firm are more than its withdrawals in its bank account. 200 The solution can be represented as follows Q.2 Ramesh has his account at Punjab National Bank, Delhi. It indicates the favourable balance as per cash book or favourable balance as per the passbook. This amount can be treated as an asset of the firm and can be called favourable balance noted under the plus items. b. Debit Balance. (b) To know the balance of bank statement. SURVEY . Answer & Solution. Reconciling the two accounts helps . Question 11. Answer. (ii) Cheques issued but not encaashed up to 31st March, 2018 amounted to ₹ 10,000. In cash book, the favourable balance indicates a) Credit balance b) Debit balance c) Bank overdraft d) Adjusted balance On which date will the cheque be recorded in the Cash payments journal? Popular Questions of Class 11 Accountancy. The debit balance indicates the favourable balance as per cash book or favourable balance as per the passbook. a) Credit. On the bank statement, cash deposited by the company is known as (a) Credit (b) Debit (c) Liability (d) Expenses. Accounting provides information on Bank statements show up cash book is paying cash book omitted to send data straight to be less: for your notes collected will see it every entry in reconciliation statement bank notes receivable on ad fetching googletag. to explain the reasons for difference in balance as shown by the cash book and pass book. The petty cash fund is a liability with a normal debit balance. 0 0 1. a) Credit balance. Credit balance in Pass Book c. Debit balance in Cash Book d. Favourable balance in Cash Book. answer choices . In cash book, the favourable balance indicates (a) Credit Balance (b) Debit Balance (c) Bank Overdraft (d) Adjusted Balance. Bank reconciliation statement compares a bank statement with _____ A) Cash . Indicate whether this is a favourable or an unfavourable balance. In cash book, the favourable balance indicates 15. b. Debit Balance. In each of the following cases indicate the alternative which you . Favourable balance in the cash book means positive balance. If the company deposits at least $40,000 tomorrow morning, the bank balance will be large enough for the bank to pay the $100,000 of checks it had written. 4. Tags: Topics: Slide 7 . Favourable balance of cash book implies Bank overdraft. On the bank statement, cash deposited by the company is known as. Favourable bank balance means debit balance in cash book as well as credit balance in pass book. Such a balance will be a credit balance as per the passbook. Credit balance of cash book Debit balance of cash book Bank overdraft Favourable balance of cash book implies. The debit balance as per the cash book means the balance of deposits held at the bank. On the bank statement, cash deposited by the company is known as answer choices Credit Debit Liability Expense Question 3 30 seconds Q. In cash book, bank charges of RM100 was not recorded. Question 2: The balance of cash at bank as shown by the Cash Book of Pan & Co. on 31st December, 2016, was ₹ 7,500. How ?? A customer to whom goods have been sold on credit cannot avail himself of a cash discount. That is, there is a favourable balance of cash deposited at the bank. Such a balance will be a credit balance as per the passbook. (a) Reconcile the cash balance of the cash book. 1. So, when the cash book balance increases, or is positive, it is shown as debit or favourable balance. 3. In cash book, the favourable balance indicates. The bank column of a cash book shows a credit balance of D1,969. A cheque of Rs 200 paid to a creditor has been entered by mistake in the cash column. This does not agree with the Cash Book balance. From the following particulars ascertain the Cash Book balance:-Cheques amounting to Rs. Question 11: My bank Pass Book showed an overdraft of Rs. The debit balance as per the cash book means the balance of deposits held at the bank. Comment * Comments ( 1) Yogeshwar Singh : 1 year ago . answer choices . Previous Question Next Question. Hence statement D. is the true statement. c) Bank overdraft. Answer: (b) Debit Balance. The cash account represents how much cash the company has on hand or in its bank accounts. If the business is a new one, capital contributed in cash and/or bank deposit appear as the first item on the debit side. A) Credit B) Debit C) Liability D) Expenses. If the account is unfavourable, it goes to credit side. It indicates the favourable balance as per cash book or favourable balance as per the passbook. not c) Cheque wrongly credited bank d) All of above by 10. 6,500 on 31st March, 2017. A) Credit Balance. Do you agree or disagree with the following . D. Adjusted balance of cash book. From the following particulars ascertain the Cash Book balance:-Cheques amounting to Rs. In other words, the excess amount withdrawn over the amount deposited in the bank. (c) To correct the cash book. d) Adjusted balance. The debit side of the cash book indicates receipts whereas the debit side indicates payments/withdrawals. cash book and the balance shown by the bank passbook. b) 6,000 minus side. be recorded in the Cash receipts journal? 59. Such balance is represented by debit balance of the cash book. D) Expenses. We deposit the reconciliation statement bank notes on the bank are errors. 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