Question No 14 Chapter No 12
When the starting point is a favourable balance of passbook
14. On 13th January 2017 my passbook showed an overdraft of Rs 12,500. On scrutiny, the following were noticed:
- Cheques amounting to Rs 2,100 were paid into the bank on 29th march of which only SR 175 was credited by the bank in passbook
- Cheques for Rs 4,000 were issued by me, of which only one cheque for Rs 600 was presented for payment
- Bank has paid a bill amounting to RS 10,000 but it has not been entered in the cash book, and a bill receivable for Rs 500 which was discounted with the bank was dishonoured on the due date.
- The bank has charged Rs 130 as its commission for collection of outstation cheques and had allowed interest Rs 100 on the trader’s balance.
Prepare a bank reconciliation statement and show the balance as it would appear in the cash book on 31st December 2018.
The Content covered in this article:
The solution of Question No 14 Chapter No 12:-
|Bank Reconciliation Statement|
|Overdraft as per PassBook||12,500|
|Add: cheques issued but not yet presented for payment||3,400||3,400|
|Less: Interest on overdraft debited by the bank||1,925|
|Less: interest (Rs 150) and bank charges (Rs 50) debited in the passbook||200|
|Less: cheque debited in cash book omitted to be banked||250||2,375|
|Overdraft as per Pass Book||13,525|
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Also, Check out the solved question of all Chapters: –
Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution
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