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✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Get complete step-by-step solutions for T.S. Grewal ISC Class 11 Accountancy - Chapter 14 - Bank Reconciliation Statement. Study double-entry system details, practice timed problems, and verify answers directly.
Prepare a Bank Reconciliation Statement from the following information on 31st March, 2023:
| ₹ | |
|---|---|
| (i) Debit Balance as per Cash Book | 1,50,000 |
| (ii) Cheques deposited but not cleared | 10,000 |
| (iii) Cheques issued but not presented | 15,000 |
| (iv) Bank interest | 2,000 |
Note: Reconciliation rule: items that make one book show a higher balance than the other are added or deducted so that the two balances agree. Cheques deposited but not yet credited, or issued but not yet presented, are timing differences; interest, charges, direct collections and dishonoured cheques are items the bank has recorded but the Cash Book has not.
Bank Reconciliation Statement as on 31st March, 2023
| Particulars | Amount (₹) |
|---|---|
| Balance as per Cash Book (Dr.) | 1,50,000 |
| Less: Cheques deposited but not yet cleared | (−) 10,000 |
| Add: Cheques issued but not yet presented | (+) 15,000 |
| Add: Interest credited by the bank (not entered in the Cash Book) | (+) 2,000 |
| Balance as per Pass Book (Cr.) | 1,57,000 |
Answer: Balance as per Pass Book (Cr.) = ₹1,57,000.
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.