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Question No 23 Chapter No 12 - USHA Publication 11 Class

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Question No 23 Chapter No 12

Two Bank Account

23. Mohan Singh maintained two separate bank account, one with United bank of India and the other with state bank of India. On 31st December 2018, the bank balances as per United bank of India and state bank of India statement were Rs 2,556 and Rs 2,548 respectively. But the bank balance in Mohan Singh’s Books on that date was Rs 2,870(Debit Balance) and Rs 4,680(Debit Balance ) respectively
On Scrutiny of these records, the following information was ascertained:

A cheque of Rs 250 from Sh. D.Ray which was directly remitted to United bank of India was not entered in Moxham Singh’s book
A cheque for Rs 700 drawn on State bank of India and paid to M/s Sin & Co., was entered in United bank of India account in Mohan Singh’s cash book
Payment of Rs 1,020 by the united bank of India to Life Insurance Corporation of India under standing advice was not recorded in Mohan Singh‘s ash book
Cheque lodged but not yet credited Rs 212 for United bank of India and Rs 1,600 for State bank of India
A Cheque of Rs 57 paid into State bank of India was retuned dishonoured but this was not recorded in Mohan Singh’s books
Bank charges for Rs 32 and Rs 45 for United bank of India and state bank of India respectively were not accounted for by Mohan Singh
Rs 350 recorded to be deposited into State bank of India on 30th December 2018 was actually credited by bank on 4th Jan. 2019
There were no unpresented cheque except one for Rs 620 drawn on State bank of India
Prepare bank reconciliation Statement as of December 31, 2018

The solution of Question No 23 Chapter No 12:-

Bank Reconciliation Statement (United Bank of India)

Particular	(Rs)	(Rs)
Balance as per Cash Book		2,870
Add: cheque directly deposited into bank	250
Add: cheque issued of State bank of India wrongly entered in United bank of India account	700
		950
		3,820
Less: L.I.C premium directly paid by the bank under standing orders	1,020
Less: Cheque deposited but not yet collected by bank	212
Less: Bank charges charged by the bank	32
		1,264
Balance as per Pass Book		2,556

Bank Reconciliation Statement (State Bank of India)

Particular	(Rs)	(Rs)
Balance as per CashBook		4,680
Add: cheque issued but not yet presented	620
		620
		5,300
Less: cheque issued to Sen and Co., wrongly entered in cash book in United bank of India	700
Less: cheque deposited but not yet collected by bank	1,600
Less: cheque deposited but dishonoured	57
Less: bank charges charged by the bank	45
Less: cheque deposited but yet collected	350
		2,752
Balance as per Pass Book		2,548