Question
Company’s cash book shows ₹1,20,000 (CR) as at
year-end. Bank statement shows ₹1,05,000 (CR). Outstanding cheques total ₹20,000 and deposits-in-transit stand at ₹10,000. Additionally, bank charged ₹2,000 as service charges not yet recorded in books. Determine the corrected cash book balance at year-end.Solution
Here, we are correcting the cash book balance: • Starting balance (per cash book) = ₹1,20,000 (CR means positive balance). • Deduct bank charges not recorded = ₹1,20,000 − ₹2,000 = ₹1,18,000. The outstanding cheques and deposits in transit affect only the bank statement side, not the cash book correction. Final corrected cash book balance = ₹1,18,000.
RBI increased the CRR requirement to 4.5% in May 2022. This action is expected to ________
What is the minimum contribution amount for a Tier II account in the National Pension System (NPS)?
Which of the following is not true about NBFCs?
Above what amount of aggregate exposure banks have to furnish credit information to Central Repository of Information on Large Credits (CRILC) under PCR?
Consider the following statements regarding the World in the Medical Tourism Index:
1. India is ranked 10th out of the top 46 countries ...
When the price of a good falls, the quantity demanded generally rises. Which of the following BEST explains this inverse relationship according to the L...
In an corporate organization, an employee communicates horizontally between different functional areas with his _______
Visvesvaraya PhD scheme has been initiated by the Government with an objective of enhancing the number of PhDs in the country to compete globally in th...
Identify the cash flow from operating activities from the following:
1. Payment of taxes
2. Dividend and Interest payments
The Assets Liabilities committee (ALCO) in a bank is primarily responsible for managing which of the following risk?
