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متابعة

Any cheque drawn to creditor but not paid by bank will effect as follows:

A) Cash book will show less balance & bank book will show more B) Cash book will show more balance & bank book will show less C) Cash book will show double balance D) Bank book will show double balance

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تم إضافة السؤال من قبل Muhammad Owais Syed , Credit Control Manager , Al Khair Trading Co. LTD
تاريخ النشر: 2013/06/19
Rehan Qureshi
من قبل Rehan Qureshi , Financial Consultant , Self Employeed

its infact option A

Raja Meziou
من قبل Raja Meziou

A  because the cheque isued is already booked, so ( debit creditors/ credit bank account) so the bank balance will show less in the cash book and the accounting  while the bank account balance is more, this will be shown at the bank reconciliation till the cheque is cleared and paid by the bank

Mohammad Tohamy Hussein Hussein
من قبل Mohammad Tohamy Hussein Hussein , Chief Executive Officer & ERP Architect , Egyptian Software Group

The closest answer is A.

Fainancial systems nowadays show that the check is drawn and book the amount in the bank balance until the check is collected or cancelled. Such systems do calrify this issue on the bank reconceliation produced by the system.

Phani Vanka
من قبل Phani Vanka , Asst Manager - Finance , Medical & Scientific Supplies ( OMZEST GROUP)

A

 

Mohammed Salim Allana
من قبل Mohammed Salim Allana , Compliance and Assurance Manager , United Arab Bank

A. Being the cheque is issued to the creditors from your account while it remains uncleared by bank.

Rolando Bugnot Jr.
من قبل Rolando Bugnot Jr. , Accountant , Aikah Establishment

A. since at the time of issuing the cheque, the entry in our books is credit to bank thus reducing our bank balance

Shahid Mehmood
من قبل Shahid Mehmood , Assistant Director Finance , Central Power Purchasing Agency Guarantee Limited (CPPA)

Correct answer is A. when a cheque is issued following enter is passed, { Dr Supplier Cr Bank). So it will reduce ledger balance but due to unpreseted in bank the bank show more balance.

in order to reconcillation these cheque should be add back to cash book balance.

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