11th | Ts grewal 2021-2022 | Question 25 to 29 | ch: 13 Bank Reconciliation Statement

Page No 13.51:

Question 25:

Prepare Bank Reconciliation Statement from the following particulars and show balance as per Cash Book:
(i) Balance as per Pass Book on 31st March, 2021 overdrawn `10,000.
(ii) Cheques drawn in the last week of March, 2021 but not cleared till 3rd April, 2021 `20,000.
(iii) Interest on bank overdraft not entered in the Cash Book `1,500.
(iv) Cheques of `20,000 deposited in the bank in March, 2021 but not collected and credited till 3rd April, 2021.
(v) `100 Insurance Premium paid by the bank under a standing order has not been entered in the Cash Book.
(iv) A draft of `10,000 favouring Atul & Co. was issued by the bank charging commission of `200. However, in the Cash Book entry was passed by `10,000.

Answer:

Bank Reconciliation Statement as on March 31, 2021
S. No.	Particulars	Plus Items (`)	Minus Items (`)
(i)	Overdraft as per the Pass Book		10,000
(ii)	Cheques issued but not presented for payment during March		20,000
(iii)	Interest charged by bank on Overdraft	1,500
(iv)	Cheques deposited in to bank but not collected	20,000
(v)	Insurance premium paid by bank but not entered in the Cash Book	100
(vi)	Bank charging commission not entered in the cash book	200
	Overdraft as per the Cash Book	8,200
		30,000	30,000

 

Page No 13.52:

Question 26:

Prepare Bank Reconciliation Statement as on 31st March, 2021 from the following particulars:
(i) R's overdraft as per Pass Book `12,000 as on 31st March.
(ii) On 30th March, cheques had been issued for `70,000 of which cheques amounting to `3,000 only had been encashed up to 31st March.
(iii) Cheques amounting to `3,500 had been paid into the bank for collection but of these only `500 had been credited in the Pass Book.
(iv) Bank has charged `500 as interest on overdraft and the intimation of which has been received on 2nd April, 2021.
(v) Bank Pass Book shows credit for `1,000 representing `400 paid by debtor of R direct into the bank and `600 collected directly by the bank in respect of interest on R's investment. R had no knowledge of these items.
(vi) A cheque for `200 has been debited in the bank column of Cash Book by R but it was not sent to the bank at all.

Answer:

Bank Reconciliation Statement as on March 31, 2021
S. No.	Particulars	Plus Items (`)	Minus Items (`)
(i)	Overdraft as per the Pass Book		12,000
(ii)	Cheques issued but not presented for payment		67,000
(iii)	Cheques deposited but not collected	3,000
(iv)	Bank Charged Interest on Overdraft	500
(v)	Amount directly paid by a debtor		400
	Interest received on Investment		600
(vi)	A Cheque entered in the Cash book but not sent to bank for collection	200
	Overdraft as per the Cash Book	76,300
		80,000	80,000

 

Page No 13.52:

Question 27:

From the following information supplied by Sanjay, prepare his Bank Reconciliation Statement as on 31st March, 2021:

(i)	Bank overdraft as per Pass Book.	16,500
(ii)	Cheques issued but not presented for payment.	8,750
(iii)	Cheques deposited with the Bank but not collected.	10,500
(iv)	Cheques recorded in the Cash Book but not sent to the bank for collection.	2,000
(v)	Payments received from customers directly by the bank.	3,500
(vi)	Bank charges debited in the Pass Book.	200
(vii)	Premium on life policy of Sanjay paid by the bank on standing advice.	1,980
(viii)	A bill for `3,000 (discounted with the bank in February) dishonoured on 31st March, 2021 and noting charges paid by the bank.	100

Answer:

Bank Reconciliation Statement as on March 31, 2021
S. No.	Particulars	Plus Items (`)	Minus Items (`)
(i)	Overdraft as per the Pass Book		16,500
(ii)	Cheques issued but not presented for payment		8,750
(iii)	Cheques deposited but not collected	10,500
(iv)	Cheques entered in the Cash Book but not sent to bank for collection	2,000
(v)	Amount directly deposited into bank by customer		3,500
(vi)	Bank Charges	200
(vii)	Insurance Premium paid by bank not recorded in the Cash Book	1,980
(viii)	Bill dishonoured	3,000
	Noting Charges paid by bank	100
	Overdraft as per the Cash Book	10,970
		28,750	28,750

 

Page No 13.52:

Question 28:

From the following particulars, ascertain the bank balance as per Pass Book as on 31st March, 2021 (a) without correcting the Cash Book balance and (b) after correcting the Cash Book balance:
(i) The bank balance as per Cash Book on 31st March, 2021 `40,000.
(ii) Cheques issued but not encashed up to 31st March, 2021 amounted to `10,000.
(iii) Cheques paid into the bank, but not cleared up to 31st March, 2021 amounted to `15,000.
(iv) Interest on investments collected by the bank but not entered in the Cash Book `500.
(v) Cheques deposited in the bank but not entered in the Cash Book `12,500.
(vi) Bank charges debited in the Pass Book but not entered in the Cash Book `100.

Answer:

(a) Without correcting Cash Book Balance

	Bank Reconciliation Statement as on March 31,2021
S. No.	Particulars	Plus Items (`)	Minus Items (`)
(i)	Bank Balance as per Cash Book	40,000
(ii)	Cheques issued but not encashed	10,000
(iii)	Cheques deposited but not cleared		15,000
(iv)	Interest on Investments collected by Bank	500
(v)	Cheques deposited directly in Bank	12,500
(vi)	Bank Charges		100
	Balance as per the Pass Book		47,900
		63,000	63,000

 

(b) After correcting Cash Book Balance

Cash Book (Adjusted) for the month of March 31, 2021
Dr.					Cr.
Date	Particulars	Bank (`)	Date	Particulars	Bank (`)
2021			2021
Mar.31	Balance b/d	40,000	Mar.31	Bank Charges	100
	Interest on Investments	500		Balance c/d	52,900
	Cheques omitted to enter	12,500
		53,000			53,000

 

Bank Reconciliation Statement as on March 31,2021
S. No.	Particulars	Plus Items (`)	Minus Items (`)
	Adjusted Balance as per the Cash Book	52,900
(i)	Cheque issued but not encashed	10,000
(ii)	Cheques deposited but not cleared		15,000
	Balance as per the Pass Book		47,900
		62,900	62,900

Page No 13.53:

Question 29:

From the following particulars, find out corrected bank balance as per Cash Book and thereafter prepare a Bank Reconciliation Statement as on 31st March, 2021 of a sole proprietor:

		`
(i)	Bank overdraft as per the Cash Book.	80,000
(ii)	Cheques deposited as per the bank statement but not entered in the Cash Book.	3,000
(iii)	Cheques recorded for collection but not sent to the bank.	10,000
(iv)	Credit side of bank column casted short.	1,000
(v)	Bank charges recorded twice in the Cash Book.	100
(vi)	Customer's cheque returned as per the Bank Statement.	4,000
(vii)	Cheques issued but dishonoured on technical grounds.	3,000
(viii)	Bills collected by bank directly.	20,000
(ix)	Cheque received entered twice in the Cash Book.	5,000

Answer:

Cash Book (Adjusted) for the month of March 31, 2021
Dr.					Cr.
Date	Particulars	Bank (`)	Date	Particulars	Bank (`)
2021			2021
Mar.31	Cheques Omitted to enter	3,000	Mar.31	Balance b/d (Overdraft)	80,000
	Bills Collection	20,000		Adjustment for undercasting	1,000
	Bank Charges	100		Cheques returned	4,000
	Balance c/d	66,900		Cheque recorded twice	5,000
		90,000			90,000

 

Bank Reconciliation Statement as on March 31, 2021
S. No.	Particulars	Plus Items (`)	Minus Items (`)
	Overdraft as per the (adjusted) Cash Book		66,900
(i)	Cheques recorded in the Cash Book but not sent to bank for collection		10,000
(ii)	Cheque issued but not cleared on technical grounds	3,000
	Overdraft as per the Pass Book	73,900
		76,900	76,900

 

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