Question No 38 Chapter No 11

Question No 38 Chapter No 11

38. Raghav & Co. have two bank accounts, Account No. I and Account No. II. From the following particulars relating to Account No. I, find out the balance on that account on December 31, 2016 according to the Cash Book of the firm.
(i) Cheques paid into bank prior to December 31, 2016, but not credited until after that date for 10,000.
(ii) Transfer of funds from Account No. II to Account No. I recorded by the bank on December 31, 2016 but entered in the Cash Book after that date for 8,000.
(iii) Cheques issued prior to December, 31 2016 but not presented until after that date for 7,429.
(iv) Bank charges debited by bank not entered in the Cash Book for 200.
(v) Interest debited by the bank not entered in the Cash Book 580.
(vi) Overdraft as per Pass Book 18,990.

The solution of Question No 38 Chapter No 11: –

Bank Reconciliation Statement
ParticularPlus Items (Rs)
Minus Items(Rs)
Debit Balance (Overdraft) as per Pass Book (Account No. I) 18,990
Add: (i) Cheque deposited but not credited10,000 
(iv) Bank charges200 
(v) Interest on overdraft charged580 
Less: (ii) Transfer of funds from Account No. II to Account No. I, not recorded in Cash Book 8,000
(iii) Cheque issued but not presented for payment 7,429
Credit Balance (Overdraft) as per Cash Book 23,639 
 34,41934,419

Bank Reconciliation Statement | Process | Illustration |

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