On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500. Prepare a Bank Reconciliation Statement to find out Balance as per bank column of Cash Book as on 31st January, 2021 by taking into consideration the below given information. 1. Subsidy from Karnataka State Government of $ 101,100 has been directly deposited into the Bank account of Dave Ltd. but this is not known to the Company's Accountant. 2. Amount of $ 77,750 wrongly debited from Company's Bank account but information is not known to Company. 3. A Draft of $ 55,500 deposited into the Company's Bank, but it is not credited before 31st January, 2021. 4. Checks of value $ 115,720 issued to creditors but they haven't presented for payment before 31st January, 2021. 5. An Outgoing check of value $ 78,750 has been recorded twice in the Cash Book. 6. Cheques worth $ 102,450 deposited into the Bank and entered in the Cash book but later found to be none of the checks were cleared before 31st January, 2021. 7. Interest on the Overdraft facility of $ 7,850 was debited by the Bank but no entry was made in Cash book. From the above particulars prepare a Bank Reconciliation Statement and find out the Balance as per Bank column of Cash Book as on 31st January, 2021. On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500. Prepare a Bank Reconciliation Statement to find out Balance as per bank column of Cash Book as on 31st January, 2021 by taking into consideration the below given information. 1. Subsidy from Karnataka State Government of $ 101,100 has been directly deposited into the Bank account of Dave Ltd. but this is not known to the Company's Accountant. 2. Amount of $ 77,750 wrongly debited from Company's Bank account but information is not known to Company. 3. A Draft of $ 55,500 deposited into the Company's Bank, but it is not credited before 31st January, 2021. 4. Checks of value $ 115,720 issued to creditors but they haven't presented for payment before 31st January, 2021. 5. An Outgoing check of value $ 78,750 has been recorded twice in the Cash Book. 6. Cheques worth $ 102,450 deposited into the Bank and entered in the Cash book but later found to be none of the checks were cleared before 31st January, 2021. 7. Interest on the Overdraft facility of $ 7,850 was debited by the Bank but no entry was made in Cash book. From the above particulars prepare a Bank Reconciliation Statement and find out the Balance as per Bank column of Cash Book as on 31st January, 2021.
Expert Answer:
Answer rating: 100% (QA)
Particulars Amount Cash balance per bank statement 505500 Add De... View the full answer
Related Book For
Microeconomics
ISBN: 9781464146978
1st edition
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
Posted Date:
Students also viewed these economics questions
-
Full employment exists when the economy is operating at its natural unemployment rate. Define the following terms: a. Frictional unemployment. b. Structural unemployment. c. The natural unemployment...
-
Suppose the economy is operating at the zero lower bound for the nominal policy rate; there is a large government deficit and the economy is operating at potential output in period t. A newly elected...
-
5. You have been provided with the facts concerning ABC's proposed investment. Use this information to complete the four templates below necessary to evaluate this investment. a. Tax depreciation...
-
1. You and a friend agree to meet at your favorite restaurant between 5:00 P.M. and 6:00 P.M. The one who arrives first will wait 15 minutes for the other, and then will leave (see figure). What is...
-
Describe the life cycle of Schistosoma mansoni.
-
We humans, like all other organisms, use a universal set of twenty amino acids in our proteins, but we cannot make ______________ of these ourselves. How many are plants unable to make? How many do...
-
Describe the hiring decision of a perfectly discriminating monopsonist and of a nondiscriminating monopsonist. In what sense do monopsonists exploit workers?
-
Coyle Company manufactured 6,000 units of a component part that is used in its product and incurred the following costs: Direct materials ................ $35,000 Direct labor ................15,000...
-
Target Co. has sales of $93,561 million, net income of $4,368 million, a total asset turnover of 1.8 and an equity multiplier of 3.55. Based on the given information, what is its return on equity?
-
Julio buys a koi fishpond (and fish to put in it) for his wife on their anniversary. He pays $8000 for the pond and fish with $2000 down. The dealer charges add-on interest of 3.5% per year, and...
-
What are the risks of investing in bonds? How can each type of risk be measured and managed?
-
1. An urn contains four balls numbered 5, 6, 7, and 8. If two balls are drawn from the urn at random (first take one, replace it and then take one- replacement) and Z is the sum of the numbers on the...
-
Develop a Julia program that simulates the orbits of planets in a solar system using Newtons laws of motion. Implement a Julia function that finds the eigenvalues of a given matrix.
-
Ebony Company has forecast sales to be $ 3 0 9 , 0 0 0 in May, $ 3 8 4 , 0 0 0 in June, $ 4 8 4 , 0 0 0 in July and $ 6 0 9 , 0 0 0 in August. Assume that 4 0 % of sales are made in cash, and the...
-
1. A publicly-held corporation has recently reported the following financial statements as of 31/12/2020. Balance sheet Income statement (2020) Assets Short-term assets 5,000,000 Debt Long-term...
-
Find the measure of the angle formed by vector v and the unit vector in the z-direction if v = -2i+j+9k. Express the answer in radians rounded to two decimal places.
-
What does rule 1 1 require insofar as investigating the facts of the plaintiff claim before filing? Similarity what does rule 1 1 require insofar as investigating the applicable law of plaintiff...
-
Prove that if Σ an is absolutely convergent, then a. an
-
Brimstone is a caustic by-product of the production of fairy dust. The external marginal cost caused by inhalers of brimstone is indicated in the graph at right as MCP. The marginal abatement costs...
-
Consider the market for Cheese Puff Snacks (Q is in bags of Cheese Puffs). The demand for Cheese Puff Snacks is QD = 30 P and the supply is QS = 3P 10. To pay for classes about healthy snacking,...
-
Princess Buttercup has a multitude of potential suitors. She wishes to separate them into two groups - those who are truly interested in her hand in marriage, and those who are only interested...
-
In a perfectly contestable market, inefficiency does not exist. Explain why.
-
A perfectly competitive market is by definition perfectly contestable, but a perfectly contestable market is not necessarily a perfectly competitive market. Comment on this statement.
-
Why is it important to be clear about how costs can be classified to consider the degree of contestability of a market?
Study smarter with the SolutionInn App