Cr. Deposits ` Balance Dr./Cr. March By balance b/d To cheque- drawings By cheque- Ram To cheque – Sumi By cheque- Prem To cheque – Salary To cheque – Kayal By cheque- Devi By interest received To bank charges , , , , , , Cr. , Cr.
Accountancy - Student activity Think: Ram enterprises received a bank statement on 31st March, , which showed a credit balance of ` , . On the same date, the balance as per cash book was ` , . Think of minimum five possible causes of difference [with amount] between these two balances. Magesh, an enthusiastic young entrepreneur, started a business on 1st December, .
He opened a current account with a nationalised bank for his business transaction. In the same bank, he maintains his personal savings bank account too. He did not find time to maintain his cash book. So he appointed a person called Dinesh to take care of bank transactions.
But that person was inexperienced. On 1st December, , the opening balance as per cash book and bank record was the same. On 2nd December, Magesh issued a cheque for ` , to a supplier, but the same was entered in the credit side of the cash book as ` . On 3rd, December, Magesh issued his savings bank account cheque for his personal expenses amounting to ` , , but Dinesh assumed this as current account cheque and the same was entered in the cash book as drawings.
Dinesh was asked to deposit cash of ` , in cash deposit machine in order to make a payment to one of the business’ supplier. He credited the same in the bank column of the cash book. On 15th December, one of his customers made online payment to Magesh’s current account, amounting to ` , . There was no entry in the cash book for this.
Dinesh received his