Page 302 - Office Practice and Accounting 10

Working:
Bank Balance = Total revolving fund
Total expenditure – Petty cash fund
= 1,60,000 – 1,39,500 – 500
Note: Deposit is recorded in deposit account separately.

EXERCISE

Answer the following questions in one sentence.
1. What are the parts of statement of expenditure?
2. Write any two types of monthly statements with their AGF Nos.

Give short answer to the following questions.

1. Introduce the five types of montly statements in brief.
2. What is monthly statement? Explain the needs and importance of preparing
monthly statements.
3. Introduce statement of expenditure and explain its both parts in brief.

Practical Problems
1. The following information is given:

Expenditure up to
Budget Head Annual Budget Expenditure of Falgun
Magh
Salary 4,00,000 90,000 60,000
Allowance 8,000 1,800 600
Traveling expenses 40,000 8,000 4,000
Office Material 36,000 9,000 4,000
Machinery 2,80,000 79,000 31,400
Total 7,64,000 1,87,800 1,00,000

Additional information:
i. Total revolving fund received Rs. 4,24,000
ii. Petty cash fund balance Rs. 1000
iii. Unlearned traveling expenses advance for Rs. 2,600
Required: Statement of Expenditure showing the bank balance.
Ans: Balance at Bank Rs. 1,35,200; Total expenditure up to Falgun Rs. 2,87,800

296 Office Practice and Accounting 10