Briefly explain the term ‘favourable balance as per cash book’.
The favourable balance as per cash book means when the deposits made by the firm are more than its withdrawals in its bank account. The debit balance as per the cash book means the balance of deposits held at the bank. Such a balance will be a credit balance as per the passbook. The credit balance as per pass book also indicates the favourable balance as per cash book.
Cash paid to Neha 2,000 was not posted to her account.
This is an error of ..................................
The wrong effect has been:
The correct effect should have been:
The rectification entry will be.
Read the following transactions and identify the cause of difference on the basis of time gap or errors made by business firm/bank. Put a sign (✓) for the correct cause.
S. No. | Transactions | Time Gap | Errors made by business/ bank |
1.
3. 4. 5. |
Cheque issued to customer but not presented for payment. Cheque amounting to Rs. 5,000 issued to Interest credited by the bank but yet not recorded by Cheque deposited into the bank but not yet collected Bank charges debited to firm's current account by the |
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Welcome to the NCERT Solutions for Class 11 Accountancy - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 5: Briefly explain the term ‘favourable balance as per cash book’.....
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