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M/s Gupta Limited shows the bank balance as per the passbook  Rs. 8,700. Cash withdrawal from the bank for Rs. 4,500 recorded as Rs. 450 in the cash book. What is the balance as per the cash book?

M/s Gupta Limited shows the bank balance as per the passbook  Rs. 8,700. Cash withdrawal from the bank for Rs. 4,500 recorded as Rs. 450 in the cash book. What is the balance as per the cash book? Correct Answer Rs. 12,750

The correct answer is Rs. 12750

Important Points

  • Since Cash is withdrawn from the bank, this should reduce the balance in both the cashbook and passbook
  • A credit of Rs. 4500 should have been made in Cashbook which is, by mistake, recorded as Rs. 450.
  • This will result in an increase in the overall balance of Cashbook as credit has been made from a much lesser amount than the actual amount
  • Since the starting balance is a Credit (favourable) balance as per passbook of Rs. 8700, the difference amount of Rs. 4050 should be added in order to tally the cashbook and passbook.
  • Rs. 4050 when added to Rs. 8700 will give Rs.12750 as the balance as per Cashbook.

Solution

Particulars

Plus Items

Minus Items

Balance as per the Passbook

 8700

 

Cash withdrawal from the bank for Rs. 4,500 was recorded as Rs. 450 in the cash book

4050

  

Total

12750

 

Balance as per the Cashbook

 12750  

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