- February 20, 2015 at 5:10 am
The bank reconciliation statement of high ltd shows outstanding lodgements of $2300 and outstanding cheques to suppliers of $2000.The company,s bank account in the ledger shows a debit balance at $12500.
What balance does the bank statement of high ltd show?
What are outstanding cheques ? Please tell me the right answer really confused here
ThanksFebruary 20, 2015 at 11:27 am
i think these are cheques which we have written to pay our suppliers but which suppliers havent taken to bank yetMarch 4, 2015 at 3:46 pm
Yeah, Tariro is right.
Due to the delay due to a clearing system of a bank, or simply coz the cheque hasn’t yet been ‘banked’ by a supplier, an outstanding cheque or ‘unpresented’ cheque doesn’t appear on the bank statement. You’ve to adjust this in the bank statement by reducing the bank statement balance.August 6, 2018 at 11:13 am
Outstanding cheaques means Unpresented cheaques and will be less than or minused from Bank statementOctober 20, 2018 at 12:04 pm
A is right
Put The Debit balance given to u in debit side of the T account and then the unpresented cheaques should be put into the debit side of bank ledger account and put the uncredited cheaques into the credit side of T account and the seeNovember 1, 2018 at 8:18 am
$12800January 7, 2019 at 3:06 pm
the answer is c bcz outstanding lodgments are uncleared cheques
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