Question No 01 Chapter No 11

Question No 01 Chapter No 11

01. Rim Zim Ltd. maintains a current account with the State Bank of India. On 31st March 2017, the bank column of its cash book showed a debit balance of 1,54,300. However, the bank statement showed a different balance as on that date. The following were the reasons for the difference :

(i)Cheques deposited, but not yet credited by the bank75,450
(ii)Cheques issued, but not yet presented for payment80,750
(iii)Bank charges not yet recorded in the cash book1,135
(iv)Cheques received by the bank directly from trade debtors1,35,000
(v)An insurance premium paid by the bank as per standing instructions, but not yet recorded in the cash book14,400
(vi) Dividend collected by the bank, but not yet recorded in the cash book1,000

Find out the balance as per the bank statement as of 31st March 2017.

The solution of Question No 01 Chapter No 11: –

Bank Reconciliation Statement
ParticularPlus Items
Minus Items
Debit Balance as per Cash Book1,54,300 
Add: (ii) Cheques issued but not presented80,760 
(iv) Cheques received by bank directly from Trade Debtors1,35,200 
(vi) Dividend collected not recorded in Cash Book1,000 
Less: (i) Cheques deposited but not credited by the bank 75,450
(iii) Bank charges not recorded in the Cash Book 1,135
(v) Insurance premium paid as per standing instructions 15,400
Credit Balance as per Pass Book 2,79,275

Bank Reconciliation Statement | Process | Illustration |

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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution

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