Question No 23 Chapter No 12 – USHA Publication 11 Class

Question No 23 Chapter No 12

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:

  1. 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
  2. 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
  3. 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
  4. Cheque lodged but not yet credited Rs 212 for United bank of India and Rs 1,600 for State bank of India
  5. A Cheque of Rs 57 paid into State bank of India was retuned dishonoured but this was not recorded in Mohan Singh’s books
  6. 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
  7. Rs 350 recorded to be deposited into State bank of India on 30th December 2018 was actually credited by bank on 4th Jan. 2019
  8. 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
    3,820
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

 

 

Bank Reconciliation Statement | Process | Illustration |

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Also, Check out the solved question of all Chapters: –

Usha Publication – Elements of Book-Keeping PSEB (Class 11) – Solution

Chapter No. 1 – Introduction

Chapter No. 2 – Theory Base of Accounting 

Chapter No. 3 – Origin of Transactions

Chapter No. 4 – Vouchers and transactions

Chapter No. 5 – Journal

Chapter No. 6 – Accounting for Goods and Services Tax(GST)

Chapter No. 7 – Ledger

Chapter No. 8 – Cash Book

Chapter No. 9 – Other Subsidiary Books

Chapter No. 10 – Journal Proper

Chapter No. 11 – Trial Balance

Chapter No. 12 – Bank Reconciliation Statement

Chapter No. 13 – Depreciation

Chapter No. 14 – Provisions and Reserves 

Chapter No. 15 – Bills of Exchange

Chapter No. 16 – Rectification of Errors 

Chapter No. 17 – Financial Statements – (Without Adjustments)

Chapter No. 18 – Financial Statements – (With Adjustments)

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