The debit balance of Rs1,500 as on the previous day was brought forward as a credit balance
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In case credit balance of Pass Book has been brought forward as debit balance that means the bank account carrying a positive balance now shows a negative balance. Accordingly, it would be added to Balance as per Pass Book with double amount in order to reconcile the same with the Cash Book. The reason for adding double amount is, if we add Rs 1,500 only, this will just balance the wrong debit given against credit. However, to show the correct credit treatment additional Rs 1,500 would be added to reconcile the balance of two books.
Answer:
The credit balance is 1500+x.
Explanation:
As per the data given in the question we have to find brought forward as a credit balance.
As per the question it is given that The debit balance of Rs 1,500 as on the previous day was brought forward as a credit balance.
when all the credit and debit balances are totaled in the first page and before recording the transactions in the second page, the balance which was totaled in the first page is carried forward to the next page. This carried forward balance is recorded as balance brought forward in the next page.
Brought forward means to move something to an earlier date or time.
If you bring forward a balance, you transfer it from a previous page or column of an account, or from another ledger or book, so that it will be the starting figure on a new page. The balance brought forward is the amount outstanding from the previous bill.
Let us assume that the debit balance of Rs. 1500 as on the previous day was brought forward as a credit balance of Rs.x in a Cash Book.
Then the balance as per Cash Book is 1500+x .
Hence, the credit balance is 1500+x.
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