Question
16:
On 1st January, 2022, 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, 2022.
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 01,2022 |
||
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 |
|
|
|
Question
17:
Tiwari & Sons find that the bank balance shown by their
Cash Book on 31st March, 2022 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, 2022 |
|||
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 |
|
|
|
|
Question
18:
On 31st March, 2022, 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, 2022.
(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, 2022.
(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, 2022 was wrongly carried forward as debit balance. The error was
noted at the time of preparing the Bank Reconciliation Statement as on 31st
March, 2022.
Prepare Bank Reconciliation Statement.
Answer:
Bank Reconciliation Statement as on March 31, 2022 |
|||
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.
Question
19:
Prepare Bank Reconciliation Statement from the following:
On 31st March, 2022, 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, 2022 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 31,2022 |
|||
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, 2022 issued to M & Co.
dishonoured will have no impact as this statement is as on 31st March 2022.
Question
20:
Overdraft balance shown by the bank column in the Cash Book of Vivek is ` 45,000.
Prepare Bank Reconciliation Statement as on 31st December, 2017:
(i) A Bill Receivable for ` 5,000 previously discounted with the bank had been dishonoured and debited in the Pass Book.
(ii) Interest on investment collected by the bank and credited in the Pass Book ` 1,500.
(iii) Cheques deposited into bank but not yet collected ` 7,500.
(iv) Interest charged by the bank on overdraft balance ` 1,850.
(v) Cheques issued but not yet presented for payment ` 11,350.
(vi) Received a payment directly from a customer into bank account ` 12,500.
(vii) Cheques recorded in the Cash Book but not sent to the bank for collection was ` 17,500.
(viii) Bank charges debited as per Pass Book `500. (Delhi)
Answer:
Bank Reconciliation Statement as on March 31, 2017 |
||||
S. No. |
Particulars |
Amount detail |
Amount (`) |
|
Credit balance as par cash book (Overdraft) |
|
45,000 |
|
|
(i) |
A Bill Receivable previously discounted with the bank had been dishonoured and debited in the Pass Book. |
5,000 |
|
|
(iii) |
Cheques deposited into bank but not yet collected. |
7,500 |
|
|
(iv) |
Interest charged by the bank on overdraft balance. |
1,850 |
|
|
(vii) |
Cheques recorded in the Cash Book but not sent to the bank for collection. |
17,500 |
|
|
(viii) |
Bank charges debited as per Pass Book. |
500 |
32,350 |
|
|
|
|
77,350 |
|
(ii) |
Interest on investment collected by the bank and credited in the Pass Book. |
1500 |
|
|
(v) |
Cheques issued but not yet presented for payment. |
11,350 |
|
|
(vi) |
Received a payment directly from a customer into bank account. |
12,500 |
25,350 |
|
|
Debit balance as par pass book (Overdraft) |
|
52,000 |
|
|
|
|
|
|
Class : 11th | Ts Grewal solution 2022-2023
Chapter 13: Bank Reconciliation Statement
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