Financial AccountingTU Board 2023
The bank statement of Everest Company shows a balance of Rs 230,000 on 31st December, 2023. On this date, the balance of cash book of the company is Rs 231,400. On investigation, the following…
5The bank statement of Everest Company shows a balance of Rs 230,000 on 31st December, 2023. On this date, the balance of cash book of the company is Rs 231,400. On investigation, the following differences were noticed:
➢ Outstanding cheque (issued on 29th December): Rs 40,000. ➢ Deposit in transit (sent on 30th December): Rs 50,000. ➢ Actual payment of Rs 4,200 made by bank but only Rs 2,400 was debited in cash book. ➢ Account receivable worth Rs 32,000 was collected directly by bank. ➢ Collection charge of Rs 200 was debited. ➢ Bank debit- no sufficient fund (NSF) cheque for Rs 25,000.
Required: Bank reconciliation statement showing adjusted balance of both books.
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