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Question No 20 Chapter No 12 – T.S. Grewal 11 Class

Question No 20 Chapter No 12
Question No.20 - Chapter No.12 - T.S. Grewal +1 Book 2019-Solution-min-min

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Question No 20 Chapter No 12

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20. Prepare the Bank Reconciliation Statement from the following:
Om 31th March 2018, a merchant’s Cashbook showed a credit bank balance of Rs 10,500 but due to the following reasons the passbook showed a difference

  1. A cheque of Rs 540 issued to Mohan been presented for payment
  2. A post-dated cheque for Rs 100 has been debited in the bank column of the cash book but under no circumstances was it possible to present it.
  3. Four cheques of Rs 1,200 sent to the bank has not been collected so far. A cheque of Rs 400 deposited in the bank has been dishonoured.
  4. As per instructions, the bank paid Rs 50 as fire Insurance premium but the entry has not been made in the cash book .
  5. There was a debit in the passbook of Rs 15 in respect of bank charges and credit of Rs 25 for interest on current Account but no record exists in the cash book.
  6. Cheque of Rs 5,000 dated 15th April 2018 issued M& Co., was dishonoured being post-dated. It was also not recorded in the cash books of account yet.

The solution of Question No 20 Chapter No 12: –  

Bank Reconciliation Statement
ParticularPlus Items
(Rs)
Minus Items
(Rs)
Overdraft as per Cash Book(Cr) 10,500
Cheque issued to Mohan but not yet presented for payment540 
Cheque deposited into the bank was post-dated cheque so it dishonoured 100
Cheque deposited into the bank but not yet credited by the bank 1,200
Cheque deposited into bank dishonoured 400
Fire insurance premium paid by bank 50
Interest on current and bank charges charged by the bank2515
Balance as per Cash Book 50,450 
 55,60055,600

Note:

(vi) Cheque of Rs 5,000 dated 15th April 2018 issued M& Co., was dishonoured being post-dated. It was also not recorded in the cash books of account yet.
This will not be entered in the bank reconciliation statement because it did not have any effect on the bank account.

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To understand more about cash book please check out following links: –

Bank Reconciliation Statement | Process | Illustration |

 

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T.S. Grewal's Double Entry Book Keeping

T.S. Grewal’s Double Entry Book Keeping

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