Interest on overdraft charged by bank is recorded in the cash column.
A
True
B
False
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Solution
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Correct option is B. False
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Similar Questions
Q1
Interest on overdraft charged by bank is recorded in the cash column.
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Q2
Overdraft as per pass book of P&Co. was Rs.60,000. -The credit side of bank column of cash book was under cast by Rs.200. -Interest on bank loan Rs.4,000 and bank charges of Rs.1,150 were not recorded in cash book. Overdraft balance as per cash book should be _________.
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Q4
Treatment of interest on bank overdraft in cash flow statement
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Q5
Answer
14. Prepare a bank reconciliation statement on 31 December 2009 for the following when overdraft as per book is Rs. 20,000
(1) cheques issued, but not presented for payment Rs. 25,000
(2) Interest on bank overdraft charged by the bank, but not entered in cash book Rs.1,000
(3) cheque deposited but not collected Rs.22,000.
(4) Insurance premium Rs. 500 paid by bank under s standing order but not recorded in cash book.