Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A. A credit balance of Rs 10,000 in the bank column of the cash book shows that A the amount received exceeds the amount paid

A. A credit balance of Rs 10,000 in the bank column of the cash book shows that

A the amount received exceeds the amount paid out by Rs 10,000

B ~ 10,000 has been lost

C the accounts clerk has made mistakes

D the bank account has been overdrawn

B. If the bank account shows a credit balance of Rs 1,000, the accountholder deposits Rs 400 and draws a cheque for Rs 300, the balance in the bank account should be

A Rs 900 debit

B Rs 1,100 debit

C Rs 900 credit

D Rs 1,100 credit

C. A debit balance of Rs 5,000 in the cash column of the cash book shows that

A Rs 5,000 has been paid out

B Rs 5,000 is owing

C the amount received exceeds the amount paid by Rs 5,000

D Rs 5,000 has been credited into the bank account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial accounting

Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas

8th Edition

9780135114933, 136108865, 978-0136108863

More Books

Students also viewed these Accounting questions

Question

Explain how to handle conflict effectively.

Answered: 1 week ago

Question

What are the three data types we have discussed in class?

Answered: 1 week ago

Question

Why does inventory flow so quickly through a Frito-Lay plant?

Answered: 1 week ago