15. From the following transactions in the Cash Book, find out the amount deposited in the bank on 31st Dec 2020.

\begin{tabular}{|l|l|l|}
\hline
Date & Particulars & Amount \\
\hline
1 & Cash in Hand & 4,300 \\
\hline
5 & Cash Sales & 8,000 \\
\hline
8 & Received from Anurag on Account & 1,200 \\
\hline
11 & Paid into Current Bank Account & 10,000 \\
\hline
14 & Received Interest on Investment & 350 \\
\hline
19 & Withdrew from bank for Expenses & 1,200 \\
\hline
23 & Drew for Personal Use & 1,050 \\
\hline
31 & Deposited into bank all cash in excess of & 1,000 \\
\hline
\end{tabular}

a) 2,200
b) 3,000
c) 4,050
d) 5,050



Answer :

To determine the amount deposited into the bank on 31st Dec 2020, let's summarize the transactions step-by-step:

1. Initial Cash in Hand: The organization starts with an initial cash balance of ₹4,300.

2. Add Cash Sales: Cash sales throughout the period are ₹8,000.

3. Add Amount Received from Anurag: Anurag contributed ₹1,200.

4. Add Interest Received: Interest received on investments is ₹350.

5. Total Cash Received: By adding all the amounts mentioned above, we get the total cash received:
[tex]\[ \text{Total Cash Received} = 4,300 + 8,000 + 1,200 + 350 = 13,850 \][/tex]

6. Paid into the Bank: An amount of ₹10,000 was deposited into the bank on the 11th of Dec.

7. Withdrawals:
- For expenses: ₹1,200 was withdrawn.
- For personal use: ₹1,050 was withdrawn.

8. Total Cash Spent: Sum of the amounts paid into the bank and withdrawn for payments:
[tex]\[ \text{Total Cash Spent} = 10,000 + 1,200 + 1,050 = 12,250 \][/tex]

9. Remaining Cash in Hand: Subtract the total cash spent from the total cash received to find the remaining cash:
[tex]\[ \text{Remaining Cash} = 13,850 - 12,250 = 1,600 \][/tex]

10. Cash to be Deposited into Bank: Since all cash in excess of ₹1,000 is to be deposited into the bank, the amount deposited will be:
[tex]\[ \text{Amount Deposited} = 1,600 - 1,000 = 600 \][/tex]

Considering all these steps, the correct answer for the amount deposited into the bank on 31st Dec 2020 is ₹600.

So, the correct option is not listed among a), b), c), or d).