Question No 18 Chapter No 12
18. On 31st March 2018, Cashbook of a Marchant showed bank overdraft of Rs 1,72,985.on comparing the Cashbook with a bank statement, the following discrepancies were noted:
- Cheque issued for Rs 60,000 was not presented in the Bank till 7th April 2018
- A cheque amounting to Rs 75,000 were deposited in the bank but were not collected.
- A cheque of Rs 15,000 received from Mahesh Chand and deposited in the Bank till 1st April 2018
- Rs 1,50,000 being the proceeds of a bill receivable collected appeared in the passbook but not in the cash book
- Bank charges Rs 1,500 and interest on overdraft Rs 8,500 appeared in passbook but not in the cash book
Prepare Bank Reconciliation Statement as on 31st March 2018 and ascertain the balance as per Bank passbook
The solution of Question No 18 Chapter No 12: –
| Bank Reconciliation Statement | ||
| Particular | Plus Items (Rs) |
Minus Items (Rs) |
| Overdraft as per Cash Book(Cr) | 1,72,985 | |
| Cheque issued but not yet presented for payment | 60,000 | |
| Cheque deposited into the bank but not yet credited by the bank | 7,000 | 75,000 |
| Cheque deposited into the bank but not yet credited by the bank | 15,000 | |
| Bill receivable appeared but bank but not yet entered in the cash book | 1,50,000 | |
| Bank charges and interest on overdraft not entered in the cash book | 10,000 | |
| Cashbook as wrongly carried to debit balance in the cash book | 1,000 | |
| Balance as per Cash Book | 63,985 | |
| 2,73,985 | 2,73,985 | |
To understand more about cash book please check out following links: –
Bank Reconciliation Statement | Process | Illustration |
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Also, Check out the solved question of previous Chapters: –
- Chapter No. 5 – Accounting Equation
- Chapter No. 6 – Accounting Procedures – Rules of Debit and Credit
- Goods and Services Tax(GST)
- Chapter No. 8 – Journal
- Chapter No. 9 – Ledger
- Chapter No. 10 – Special Purpose Books I – Cash Book
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