Answered: As on 28 Feb the Cash Book reports a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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As on 28 Feb the Cash Book reports a bank balance of RO 10,900; while cheques yet to be presented amount to RO10,780 and deposits yet to be credited by the bank amount to RO15,120. There was dividend collected by the bank RO 1250. What would be the balance as per the Bank Statement? a. RO 13990 b. RO 7810 c. RO 7120 d. RO 5965

Definition Definition Financial journal in which only cash-related transactions are recorded. Cash transactions are posted chronologically in the cash book, which is also called a subsidiary book. All the cash receipts are recorded on the debit side and all the cash payments are recorded on the credit side. An important point to remember is that the cash book never shows a credit balance; only a debit balance is shown in the cash book.

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