Quiz

Question: From the following particulars, find balance as per cash book as at March 31, 2018.

(i) Credit balance as per pass book Rs 5,200

(ii) Insurance premium paid directly by bank Rs 2,000

(iii) Direct deposit to bank by customers Rs 4,100

(iv) Interest credited by bank Rs 300
Options:
A.Rs.3,500 debit balance
B.Rs.3,500 credit balance
C.Rs.2,800 credit balance
D.Rs.2,800 debit balance
Answer: Option D
: D

Particulars Amount
Credit balance as per pass book 5,200
Add:Insurance premium paid by bank 2,000
Less: Direct deposits by customers 4,100
Less: Interest credited by bank 300
Debit balance as per cash book 2,800

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More Questions on This Topic :

Question 1. From the following particulars, find balance as per cash book as at March 31, 2018.

(i) Debit balance as per pass book  Rs 8,250

(ii) Cheques issued but not presented Rs 2,750

(iii) Direct deposit to bank by customers Rs.2,200

(iv) Dividend received directly into the bank account Rs 300
  1.    Rs.14,500 credit balance
  2.    Rs.13,500 debit balance
  3.    Rs.13,500 credit balance
  4.    Rs.14,500 debit balance
Answer: Option C
: C

Particulars Amount
Debit balance as per pass book(Overdraft) 8,250
Add:Cheques issued but not presented 2,750
Add: Direct deposits by customers 2,200
Add: Dividend received directly 300
Credit balance as per cash book(Overdraft) 13,500
Question 2. Which of the following is not true with regards to dishonor of a cheque?
  1.    Dishonored cheque is a cheque which is presented for payment and the drawer has insufficient fund in his or her account to cover the cheque
  2.    Dishonored cheque is a cheque which is presented for payment and the drawer has sufficient fund in his or her account to cover the cheque
  3.    The dishonored cheque is shown in the debit column of the bank statement
  4.    The customer is still owing us the money as his or her cheque has been dishonored
Answer: Option B
: B

Dishonored cheque is a cheque which is presented for payment and the drawer has insufficient fund in his or her account to cover the cheque.
Question 3. Which of the following is correct in case of interest collected by bank?
  1.    Added to balance in cash book
  2.    Subtracted from balance in cash book
  3.    Added to bank balance
  4.    None of these
Answer: Option A
: A

Interest collected by bank is added to the balance in the cash book.
Question 4. Favourable bank balance means:
  1.    Debit balance in cash book
  2.    Credit balance in pass book
  3.    Both A & B
  4.    None of these
Answer: Option C
: C

Favourable bank balance means debit balance in cash book as well as credit balance in pass book.
Question 5. Balance shown by Cash Book: Rs 10,000

Cheques issued but not presented for payment: Rs 4,000

Cheques deposited but not yet collected: Rs 3,000



Balance as per pass book shall be?
  1.    Rs 9,000
  2.    Rs 10,000
  3.    Rs 11,000
  4.    None
Answer: Option C
: C

Debit balance as per Cash Book : Rs 10,000
Less: Cheques deposited but not cleared Rs 3,000
Add: Cheques issued but not presented Rs 4,000
Balance as per pass book: Rs 11,000
Question 6. _____ cheques are issued by the business but not yet presented to bank.
  1.    Uncredited Cheques
  2.    Unpresented Cheques
  3.    Either A or B
  4.    Dishonored Cheques
Answer: Option B
: B

Cheques that are issued by business but not yet presented to bank are known as Unpresented Cheques.

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