Question

Bank wrongly credited Rs. 25,000 to Rohan's Account, an account holder. This amount would be recorded in Cash-Book of Rohan as:
(a) On Debit side
(b) On Credit side
(c) Either on Debit or Credit side
(d) Neither on Debit nor on Credit side

Answer 1

Answer:

(D)Neither on Debit nor on Credit side

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Answer 2

Bank wrongly credited Rs. 25,000 to Rohan's Account, an account holder. This amount would be recorded in the Cash-Book of Rohan as:

(d) Neither on Debit nor on the Credit side

The reason why the amount will not be recorded in the cash book is:-

• A cashbook does not record any bank transactions.
• A cashbook deals which only transactions made with cash.
• Bank wrongly credited Rohan's a/c would reflect on Rohan's a/c.
• This will be adjusted in the books of Rohan's a/c as contra entry.