Question No 36 Chapter No 11
36. Prepare a Bank Reconciliation Statement from the following particulars as on 31st March 2020:
(i) Cheques were deposited into bank on 25th March for 20,000. Out of these cheques for 8,000 were cleared on 4th April, cheques for 6,000 on 6th April and one cheque for 1,400 was dishonoured on 7th April.
(ii) Cheques amounting to 12,000 were issued in March, out of which cheques for 2,000 were encashed upto 31st March.
(iii) A bill for 5,000 (discounted with the bank in January) dishonoured on 30th March 2015 and noting charges paid by bank 50. No information regarding the dishonour was received from the bank in March 2015.
(iv) Cheque issued to a creditor for 2,000 was through mistake entered in the cash column of the Cash Book. The same has not been presented for payment till today.
(v) Receipt side of the Cash Book (bank column) was undercast by 100.
(vi) Bank has paid a bill payable amounting to 2,500 but it has not been entered in the Cash Book.
(vii) A cheque for 2,000 issued to Mr. X was omitted to be recorded in Cash Book.
(viii) Dr. balance as per Pass Book was 7,200.
The Content covered in this article:
The solution of Question No 36 Chapter No 11: –
|Bank Reconciliation Statement|
|Particular||Plus Items (Rs)||Minus Items(Rs)|
|Debit Balance (Overdraft) as per Pass Book||7,200|
|Add: (i) Cheque deposited but not credited (8,000 + 6,000 + 1,400)||15,400|
|(iii) Discounted B/R dishonoured, charges paid too||5,050|
|(vi) Bills Payable honoured by Bank||2,500|
|(vii) Cheque issued but not recorded in Cash Book||2,000|
|Less: (ii) Cheque issued but not presented (12,000 – 2,000)||10,000|
|(v) Receipt side of Cash Book undercasted||100|
|Debit Balance as per Pass Book||7,650|
Note: Transaction no. (iv) will have no effect on the bank balance as the issued cheque was recorded in the cash column and was not presented for payment till the date of preparation of Bank Reconciliation Statement.
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D K Goel – New ISC Accountancy -(Class 11 – ICSE)- Solution
- Chapter 1 Evolution of Accounting & Basic Accounting Terms
- Chapter 2 Accounting Equations
- Chapter 3 Meaning and Objectives of Accounting
- Chapter 4 Double Entry System
- Chapter 5 Books of Original Entry – Journal
- Chapter 6 Accounting for Goods and Service Tax (GST) (Coming soon)
- Chapter 7 Books of Original Entry – Cash Book (Coming soon)
- Chapter 8 Books of Original Entry – Special Purpose Subsidiary Books (Coming soon)
- Chapter 9 Ledger (Coming soon)
- Chapter 10 Trial Balance and Errors (Coming soon)
- Chapter 11 Bank Reconciliation Statement (Coming soon)
- Chapter 12 Depreciation (Coming soon)
- Chapter 13 Bills of Exchange (Coming soon)
- Chapter 14 Generally Accepted Accounting Principles(GAAP)
- Chapter 15 Bases of Accounting
- Chapter 16 Accounting Standards and International Financial Reporting Standard(IFRS) (Coming soon)
- Chapter 17 Capital and Revenue
- Chapter 18 Provisions and Reserves
- Chapter 19 Final Accounts (Coming soon)
- Chapter 20 Final Accounts – With Adjustments (Coming soon)
- Chapter 21 Errors and their Rectification (Coming soon)
- Chapter 22 Accounts from Incomplete Records – Single Entry System (Coming soon)
- Chapter 23 Accounts of Not-for-Profit Organisations (Coming soon)
- Chapter 24 Computerised Accounting System (Coming soon)
- Chapter 25 Introduction to Accounting Information System (Coming soon)
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