The following are some of the causes of difference between the Cash Book and the Pass Book balances found on 31st December, 2010. If you start with the Cash Book debit balance in preparing a Bank Reconciliation Statement as on 31st December, 2010, will you add them or deduct? 3
| Particulars | Add/Less |
| Credit side of cash book was overstated | ? |
| The bank charges paid recorded twice in cash book | ? |
| A receipt of dividend recorded twice in cash book | ? |
Differentiate the following: 3
v Current Liability
Long term Liability
What is the importance of "NARRATION" in Journal Entry? 3
From the following data prove that Assets = Liabilities + Capital ( 5)
Ø Cash in hand Rs.38,000
Ø Cash at bank Rs.95,000
Ø Purchases Rs.105,000
Ø Outstanding expenses Rs.12,000
Ø Net profit Rs.58,000
Ø Sales Rs.67,000
Ø Furniture & fixture Rs.55,000
Ø Loan from bank Rs.28,000
Equity Rs.90,000
· Original cost of fixed asset Rs. 1,000,000
· Accumulated Depreciation Rs. 400,000
· Revalued amount of fixed asset Rs. 500,000
Required:
Calculate the Written down value and Loss on revaluation of fixed asset (5)
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