Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Balance as per bank statement} & 240 \\ \text{Amount paid in but not...
Question 1 Report
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline \text{Balance as per bank statement} & 240 \\ \text{Amount paid in but not credited} & 192 \\ \text{Unpresented cheque} & 70 \end{array}\)
What is the balance as per Cash book?
What is the balance as per Cash book?
Answer Details
The balance as per cash book can be calculated by starting with the balance as per bank statement and adjusting for transactions that have not been recorded in the bank statement yet or transactions that have been recorded in the bank statement but not yet recorded in the cash book.
Starting with the balance as per bank statement of N240, we can add the amount paid in but not credited of N192 to get N432. Then, we subtract the unpresented cheque of N70 to get the balance as per cash book of N362.
Therefore, the answer is N362.
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