a) On \( 31^{\text{st}} \) Chaitra 2075 Bank Statement of KK Company disclosed a balance of Rs. 25,000 and Cash Book showed the balance of Rs.…
BBS Financial Accounting and Analysis · 2077 · Solved Question with Answer
a) On \( 31^{\text{st}} \) Chaitra 2075 Bank Statement of KK Company disclosed a balance of Rs. 25,000 and Cash Book showed the balance of Rs. 30,000.
i. Number of cheques were deposited in the bank but on \( 31^{\text{st}} \) Chaitra, 2075, a cheque for Rs. 5,000 was not credited in the Bank Statement.
ii. Cheques issued of Rs. 8,000 but only Rs. 3,000 presented before \( 31^{\text{st}} \) Chaitra.
iii. Notes receivable collected by the bank Rs. 5,000.
iv. Cash of Rs. 6,000 deposited by the company on Chaitra was recorded by the bank as Rs. 4,000.
v. A cheque for Rs. 8,000 received from a customer was returned by the bank due to insufficient fund with the bank.
Required : Bank Reconciliation Statement as on \( 31^{\text{st}} \) Chaitra 2075.
b) Differentiate between account receivable and note receivable.