Treatment of bank balance?

Kumar Gaurav (Going...to be C.A soon...)   (1624 Points)

12 July 2013  

Dear All

My Bank Balance is showing Rs. 100000/- on 31st March 2013 as per my books. But Actual Bank balance is Rs. 50,000/- as on 31st March as per Bank statement.

The reason for difference is that we have deposited Rs. 50000/- cheque on 31st March but not credited by bank till 31st March. ( Hence, it will reflect in BRS......but on the date of Balance sheet ie: 31st March what amount to be shown in Balance sheet is it Rs. 100000/- or Rs. 50000/-

Please advise & clear the concept.

 

Thanks