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प्रश्न
On 31st August 2018 bank passbook of Mr. Ravi showed a credit balance of ₹ 33,600, but Cash Book showed a different balance. On comparing the two books following differences were noticed:
- Cheques paid into the bank but not credited before 31st Aug 2018 amounted to ₹ 24,500.
- Direct deposit by the customer through NEFT ₹ 33,000 recorded in the passbook only.
- Cheques issued on 28th Aug 2018 were presented for payment on 5th Sep. 2018 amounted to ₹ 38,800.
- A bill receivable for ₹ 15,000 discounted with the bank was dishonored on 30th Aug 2018. Intimation of the same was received only on 3rd Sep 2018.
- Passbook credit side was overcast ₹ 2,000.
- Bank debited ₹ 400 for bank charges in the passbook, which was not recorded in Cash Book.
Prepare Bank Reconciliation Statement as of 31st August 2018.
उत्तर
Bank Reconciliation Statement as of 31st August 2018.
| Particulates | Amount (₹) | Amount (₹) |
| Bank balance as per pass book | 33,600 | |
| Add: | ||
| (1) Cheque deposited into the bank but not credited into the pass book | 24,500 | |
| (2) Dishonor of discounted bill not recorded in the cash book | 15,000 | |
| (3) Bank charges debited in the pass book but not recorded in the cash book | 400 | 39,900 |
| 73,500 | ||
| Less: | ||
| (1) Direct deposit by customer through NEFT recorded only in the pass book | 33,000 | |
| (2) Cheque issued but not presented for payment | 38,800 | |
| (3) Pass Book credit side overcast now corrected | 2,000 | 73,800 |
| Bank Overdraft as per Cash Book | 300 |
Working Notes:
To determine the items to be added and deducted in the Bank Reconciliation Statement, we must prepare a Cash Book and a Passbook based on the basic information given in the problem:
| Cash Book (With Bank Column) | |||||
| 2. | NEFT deposit | 33,000 | 4 | Bill dishonoured | 15,000 |
| 6 | Bank Changes | 400 | |||
| (-) | (+) | ||||
| Bank Pass Book | ||||
| 3. | Cheque issued | 38,800 | By Balance b/d | 33,600 |
| 5. | Overcast corrected | 2,000 | Cheque deposited | 24,600 |
| (+) | (+) | |||
Explanation:
- First record the opening balance in the appropriate book and at the appropriate side i.e. either in Cashbook or passbook.
- In the above problem Bank balance of ₹ 33,600 as per the passbook is recorded on the credit side of the passbook in a box.
- In this problem, the entries which are passed on the credit side of the Cashbook and passbook are to be added in the Bank Reconciliation Statement and the entries passed on the debit side of the Cash Book and passbook are to be deducted in the Bank Reconciliation Statement. This is because the opening balance appears on the credit side of the passbook.
- Pass the entry of the given transactions in the book in which entry is not passed due to one or another reason, e.g. cheque of ₹ 24,300 is deposited but not collected. In this case, entry is not passed in the passbook, as the cheque is not collected by the bank. Now draft the entry for the given transaction on the credit side of the passbook. This is because, after the collection of cheques, the bank balance is increased. In the same way for remaining transactions pass the entry in that book where entry is not passed corresponding.
APPEARS IN
संबंधित प्रश्न
Answer in one sentence:
Who prepares the Bank Reconciliation Statement?
Answer in one sentence:
On which side is interest on bank deposit recorded in Pass Book?
Give one word/term/phrase which can substitute the following statement:
Statement showing the causes of disagreement between balance of Cash Book and Pass Book.
Give one word/term/phrase which can substitute the following statement:
Excess of bank deposits over withdrawals by businessman in bank current account.
Do you agree or disagree with the following statement:
Bank Reconciliation Statement is prepared only during the year end.
Do you agree or disagree with the following statement:
Bank Reconciliation Statement is similar to bank statement.
Select the most appropriate alternative from those given and rewrite the following statement:
Bank gives overdraft facility to __________ account holder.
Complete the following statement:
While preparing Bank Reconciliation Statement only __________ column of Cash Book is considered.
Complete the following statement:
A statement showing the reasons for difference in Cash Book balance and Pass Book balance is known as ___________.
State whether the following statement is True or False with reasons:
Businessman can prepare Bank Reconciliation statement only with Cash Book Balance.
Which of the following is not the salient feature of bank reconciliation statement?
Balance as per cash book is ₹ 2, 000. Bank charge of ₹ 50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now?
Balance as per bank statement is ₹ 1, 000. Cheque deposited, but not yet credited by the bank is ₹ 2, 000. What is the balance as per bank column of the cash book?
Give any two expenses which may be paid by the banker as per standing instruction.
Bank reconciliation statement is prepared to identify the causes of differences between balance as per bank column of the cash book and balance as per cash column of the cash book.
Give any three reasons for preparing bank reconciliation statement.
Explain why does money deposited into bank appear on the debit side of the cash book, but on the credit side of the bank statement?
From the following details prepare Bank Reconciliation Statement as of 31st Dec. 2018.
1. Bank overdraft as per Cash Book on 31st Dec. 2018 was ₹ 48,450.
2. Bank charges for SMS alerts ₹ 370 were debited in passbook but not recorded in Cash Book.
3. Interest in overdraft ₹ 2,870 did not appear in Cash Book.
4. A bill for ₹ 12,000 discounted with bank appears in Cash Book at the full amount but the bank has deducted ₹ 200 discounting charges.
5. Cheques issued but not presented for payment before 31st Dec. 2018 amounted to ₹ 32,300.
6. Cheques amounting to ₹ 24,000 were deposited into the bank but only a cheque of ₹ 8,000 was collected by the bank before 31st Dec. 2018.
7. Paid stationary bill ₹ 11,300 by debit card. It was not recorded in Cash Book.
Prepare Bank Reconciliation Statement from the following information as of 31st March 2019.
1. Balance as per Cash Book ₹ 10,000.
2. Cheque of ₹ 2,000 issued but not presented to Bank for payment.
3. Our debtor directly deposited ₹ 3,500 to our Bank account by NEFT, not recorded in the Cash Book.
4. Bank paid electricity bill on our behalf ₹ 450 and charged Bank charges ₹ 100.
5. Paid ₹ 1,500 to ABC & company, our supplier by business debit card but recorded in Cash Book as ₹ 150.
6. Bank credited interest on Investment ₹ 500.
7. Cheque of ₹ 885 issued and presented to Bank but wrongly entered in the Pass Book as ₹ 865.
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000
- A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹ 100.
- Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.
From the following particulars prepare the Bank Reconciliation Statement as on 30th June 2019.
1. Credit balance as per Pass Book ₹ 20,000.
2. A cheque for ₹ 3,500 was issued and paid by bank, recorded in the Pass Book as ₹ 5,300.
3. cheque deposited ₹ 9,700 collected by the bank was not recorded in Cash Book.
4. The payment side of Cash Book was undercast by ₹ 100. 5. The electricity bill paid by the bank ₹ 6,200 was recorded twice in the Pass Book.
From the following particulars prepare the Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000.
- A cheque for ₹ 3,500 was issued and paid by the bank, recorded in the Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by the bank was not recorded in the Cash Book.
- The payment side of Cash Book was undercast by ₹ 100.
- The electricity bill paid by the bank ₹ 6,200 was recorded twice in the Pass Book.
From the following particulars, prepare the Bank Reconciliation Statement as of 30th June 2019.
- Credit balance as per Pass Book ₹20,000.
- A cheque for ₹3,500 was issued and paid by the bank, recorded in Pass Book as ₹5,300
- The cheque deposited ₹9,700 collected by the bank was not recorded in the Cash Book.
- The payment side of the Cash Book was undercast by ₹100.
- Electricity bill paid by bank ₹6,200 was recorded twice in Pass Book.
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000.
- A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹ 100.
- Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000.
- A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹ 100.
- Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000.
- A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹ 100.
- Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.
