Question

Credit balance as per Cash Book was Rs. 30,000, cheque deposited Rs. 5,000 were not credited by bank and cheque issued Rs. 7,000 were not presented for payment. What will be the resulting balance as per Bank Statement?

• A. Rs. 42,000
• B. Rs. 28,000
• C. Rs. 27,000
• D. Rs. 32,000

Hint:

To reconcile balances, always add cheques issued but not presented and subtract cheques deposited but not yet credited.

Answer 1

The Correct Option is D

The formula to reconcile the Bank Statement is:

Balance as per Cash Book + Cheques issued but not presented – Cheques deposited but not credited

Given:
- Balance as per Cash Book = Rs. 30,000 
- Cheque deposited but not credited = Rs. 5,000 (deduct) 
- Cheque issued but not presented = Rs. 7,000 (add)

Resulting Balance = \( 30,000 + 7,000 - 5,000 = Rs. 32,000 \)