Course Content
Basic Accountancy (Past Paper 2009)
All questions are taken from DAO Exam Part-I (Past Paper 2009)
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Classifying daily basis transactions according to their types
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What is Statement of Financial Position (SOFP)
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Write double-Entry Formula Entries
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Recording Cash Book Transaction
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Journal Entry
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Short Questions
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Find Depreciation: The Time Value of Money
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Reconciliation of Payables and Supplier’s Memorandum Ledger Balances
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Basic Accounting-I (Past Paper 2010)
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Let's Analyze your knowledge with Quiz
30:00
Basic Accounting (Past Paper 2010)
Division Accounts Officer's Examination (Part-I) 2010 paper answers
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Present Journal entries from the enlisted transactions
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Transactions Typically Recorded in a Journal
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Security Aspects of Handling and Storing Money
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Define Bank Reconciliation & draw it benefits
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Bank Reconciliation Example
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Bad debt
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Good internal controls to support an efficient and reliable payroll system
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Replacing Machinery
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Dismantling Costs of Old Machine
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Basic Accounting Help Material
Short definition of the Accounting terms
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Book of Accounts
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Accounting Processes
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Single-entry and Double-entry accounting:
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Financial Statements (Assets, Liabilities, and Shareholders’ Equity)
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Difference between a balance sheet, an income statement and a cash flow statement
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What is the difference between a cash book and a bank statement?
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Course outline for Basic Accounting
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New Accounting Model (Exam-2009)
Books references: 1. Account Code (Volume III). 2. Chart of Accounts (Issued by CGA). 3. Manual Accounting Principles. 4. Accounting Policies and Procedures Manual.
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Select Suitable answers
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Write short notes on the following questions.
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Pass Journal Entries
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Reconciliation of Contractors’ Expenditure in APPM
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Treatment of Replacement Cheques, Unclaimed and Stale Cheques in APPM
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Business Communication (Exam 2009)
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Proposal for the Auditor General of Pakistan
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Write an essay on the new challenges emerging for the auditors
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What type of business skills are used in contract planning, execution, implementation and evaluation?
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Please comment on the following:
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Please comment in short on the following:
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Private: DAO Part-I Examination 2024 (Fresh Candidates) Past Papers
About Lesson

Q.5

(Part -a) The following is a bank reconciliation statement prepared by Sun Inc:

  • Overdraft per bank statement 40,000/-
  • Add: deposits not credited 45,000/-
  •                                               = 85,000/-
  • Less: outstanding cheques 6,000/-
  • Overdraft per cash book 79,000/-

Answer: 

Bank Reconciliation: Let’s calculate the cash book balance based on the given bank reconciliation statement:

  • Bank Statement Ending Balance: Rs. 40,000
  • Deposits Not Credited: Rs. 45,000
  • Outstanding Cheques: Rs. 6,000

  1. Adjusted Bank Cash Balance:

    • Add deposits in transit: Rs. 45,000 (since they are not yet recorded on the bank statement).
    • Deduct outstanding checks: Rs. 6,000.
    • Adjusted bank balance = Rs. 40,000 + Rs. 45,000 – Rs. 6,000 = Rs. 79,000.

(Part -b) Assuming the bank statement balance of Rs.40,000 to be correct, what should the cash book balance be?

  • (a) Rs.79,000/-
  • (b) Rs. 6,000/-
  • (c) Rs. 1,000/- over drawn.
  • (d) Rs. 6.000/- cash at bank

Answer: 

  1. Adjusted Company Cash Balance:

    • Use the company’s ending cash balance: Rs. 79,000.
    • No interest earned or bank fees mentioned.
    • Adjusted company balance = Rs. 79,000.

Since the adjusted bank balance matches the adjusted company cash balance, the correct answer is (a) Rs. 79,000/-12.

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