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Zorluk: KolayCauses of Discrepancies Between Cash Book and Bank Statement

A cheque issued by a trading enterprise to a supplier was correctly credited in the Cash Book, but it had not yet been presented to the bank for payment at the reconciliation date. Which of the following best describes this discrepancy item?

  1. Unpresented chequeCevap
  2. B
    Uncredited lodgement
  3. C
    Dishonoured cheque
  4. D
    Standing order

Cevap

Unpresented cheque
When a business issues a cheque to a creditor, it immediately records the outlay on the credit side of its Cash Book. If the payee has not presented the cheque to the bank by the date of reconciliation, the bank statement will not reflect the withdrawal. Such items are classified as unpresented cheques.

Adım Adım Çözüm

1
Identify the nature of the transaction
The enterprise issued a cheque, which reduces the Cash Book balance and is entered on its credit side.
Payment entries in the Cash Book are recorded on the credit side upon issuing a cheque.
2
Analyze the bank statement status
The bank has not yet debited the account because the supplier has not presented the cheque for clearance.
The bank remains unaware of the transaction until clearance is initiated by the recipient.
3
Classify the cause of discrepancy
A cheque issued by the business but not yet cleared by the bank is termed an unpresented cheque.
This represents a timing difference between the Cash Book credit entry and the Bank Statement debit entry.

Anahtar Kavram

Unpresented cheques as a timing discrepancy between Cash Book and Bank Statement
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Konular

Causes of Discrepancies Between Cash Book and Bank Statement

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