Page No
13.48:
Question
13:
On 1st January, 2021, Naresh had
an overdraft of `40,000
as shown by his Cash Book in the bank column. Cheques
amounting to `10,000 had been deposited by him but were not collected by the bank
by 1st January, 2021. He issued cheques of `7,000
which were not presented to the bank for payment up to that day. There was also
a debit in his Pass Book of `600 for interest and `500 for bank charges.
Prepare a Bank Reconciliation Statement.
Answer:
|
Bank Reconciliation Statement as on January 01,2021 |
||
|
Particulars |
Plus Items (`) |
Minus Items (`) |
|
Overdraft
as per the Cash Book |
|
40,000 |
|
Cheques deposited but not Cleared |
|
10,000 |
|
Cheques Issued but not presented
for payment |
7,000 |
|
|
Bank Charged
Interest |
|
600 |
|
Bank Charges |
|
500 |
|
Overdraft
as per the Pass Book |
44,100 |
|
|
|
51,100 |
51,100 |
|
|
|
|
Page No
13.48:
Question
14:
Tiwari & Sons find that the bank balance shown by their
Cash Book on 31st March, 2021 is `40,500 (credit) but the Pass Book
shows a difference due to the following reasons:
(i) A cheque for `5,000
drawn in favour of Manohar has not yet been presented
for payment.
(ii) A post-dated cheque for `900 has been
debited in the bank column of the Cash Book but it could not have been
presented in any case.
(iii) Cheques totalling `10,200
deposited with the bank have not yet been collected and a cheque
for `4,000 has been dishonored.
(iv) A bill for `10,000 was retired
by the Bank under a rebate of `150 but the full amount of the bill was credited in the bank column
of the Cash Book.
Prepare Bank Reconciliation Statement and find out the balance as per Pass
Book.
Answer:
|
Bank Reconciliation Statement as on March 31, 2021 |
|||
|
S. No. |
Particulars |
Plus Items (`) |
Minus Items (`) |
|
|
Overdraft as per
the Cash Book |
|
40,500 |
|
(i) |
Cheque issued but not presented for
payment |
5,000 |
|
|
(ii) |
Post-dated Cheque entered in the Cash Book but not deposited in the
bank |
|
900 |
|
(iii) |
Cheques deposited into bank but not
collected |
|
10,200 |
|
|
Cheque dishonoured |
|
4,000 |
|
(iv) |
Rebate on
retiring of bill not entered in the Cash Book |
150 |
|
|
|
Overdraft as per
the Pass Book |
50,450 |
|
|
|
|
55,600 |
55,600 |
|
|
|
|
|
Page No
13.49:
Question
15:
On 31st March, 2021, Cash Book of a merchant showed bank
overdraft of `1,72,985. On comparing the Cash Book with
Bank Statement, following discrepancies were noted:
(i) Cheques issued for `60,000
were not presented in the bank till 7th April, 2021.
(ii) Cheques amounting to `75,000 were
deposited in the bank but were not collected.
(iii) A Cheque of `15,000 received
from Mahesh Chand and deposited in the bank was dishonoured
but the non-payment advice was not received from the bank till 1st April, 2021.
(iv) `1,50,000 being the proceeds of a bill receivable collected appeared
in the Pass Book but not in the Cash Book.
(v) Bank charges `1,500 and interest on overdraft `8,500 appeared in
the Pass Book but not in the Cash Book.
(vi) Overdraft balance as per Cash Book of `500 on
28th February, 2021 was wrongly carried forward as debit balance. The error was
noted at the time of preparing the Bank Reconciliation Statement as on 31st
March, 2021.
Prepare Bank Reconciliation Statement.
Answer:
|
Bank Reconciliation Statement as on March 31, 2021 |
|||
|
S. No |
Particulars |
Plus Items (`) |
Minus Items (`) |
|
|
Overdraft
as per the Cash Book |
|
1,72,985 |
|
(i) |
Cheques issued but not presented
for payment |
60,000 |
|
|
(ii) |
Cheques deposited but not collected |
|
75,000 |
|
(iii) |
Cheque deposited but dishonoured |
|
15,000 |
|
(iv) |
Bill sent for
collection honoured but not entered in the Cash
Book |
1,50,000 |
|
|
(v)a |
Bank Charges |
|
1,500 |
|
(v)b |
Bank Interest on
overdraft |
|
8,500 |
|
(vi) |
Overdraft
balance wrongly taken as debit balance (Note) |
|
1,000 |
|
|
Overdraft as per
the Pass Book |
63,985 |
|
|
|
|
2,73,985 |
2,73,985 |
|
|
|
|
|
Note: Overdraft balance has credit balance but taken as debit
balance, so to correct the error credit cash book by double amount.
Therefore, 1,000 should be shown in the minus side.
Page No
13.49:
Question
16:
Prepare Bank Reconciliation Statement from the following:
On 31st March, 2021, a merchant's Cash Book showed a credit bank balance of `10,500
but due to the following reasons the Pass Book showed a difference:
(i) A cheque of `540
issued to Mohan has not been presented for payment.
(ii) A post-dated cheque for `100 has been
debited in the bank column of the Cash Book but under no circumstances was it
possible to present it.
(iii) Four cheque of `1,200 sent to the
bank have not been collected so far. A cheque of `400
deposited in the bank has been dishonoured.
(iv) As per instructions, the bank paid `50 as
Fire Insurance premium but the entry has not been made in the Cash Book.
(v) There was a debit in the Pass Book of `15 in respect of
bank charges and a credit of `25 for interest on Current Account but no record exists in the Cash
Book.
(vi) Cheque of `5,000
dated 15th April, 2021 issued to M & Co. was dishonored being post dated. It was also not recorded in the books of
account yet.
Answer:
|
Bank Reconciliation Statement as on March 31,2021 |
|||
|
S. No. |
Particulars |
Plus Items (`) |
Minus Items (`) |
|
|
Credit bank
balance as per the Cash Book |
|
10,500 |
|
(i) |
Cheque issued but not presented for
payment |
540 |
|
|
(ii) |
Post-dated Cheque entered in the Cash Book but not deposited in the
Bank |
|
100 |
|
(iii) |
Cheque deposited but not cleared |
|
1,200 |
|
|
Cheque dishonoured |
|
400 |
|
(iv) |
Insurance
premium paid by bank was not entered in the Cash Book |
|
50 |
|
(v) |
Bank Charges |
|
15 |
|
|
Bank allowed
Interest |
25 |
|
|
|
Overdraft as per
the Pass Book |
11,700 |
|
|
|
|
12,265 |
12,265 |
|
|
|
|
|
Note: Cheque dated 15th April, 2021
issued to M & Co. dishonoured will have no impact
as this statement is as on 31st March 2021.