On 31st May 2015 the cash book of X Ltd showed a credit balance of 50. On examination of the cash books and bank statements the following was revealed:

1. Cheques amounting to 1,000 which were issued to creditors and entered in the cash book before 31st May were not presented for payment until after that date.

2. Cheques received amounting to 500 had been recorded in the cash book as having been paid into the bank on 31st May but were entered on the bank statements on 3rd June.

3. A cheque received for 50 and banked had been returned by the bank marked No funds available. No adjustment has been made in the cash book.

Required:

Calculate the correct bank balance as per cash book and as per bank statement.