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11th | Bank Reconciliation Statement | Question No. 11 To 15 | Ts Grewal Solution 2022-2023

Question 11:


Bank Statement of a customer shows bank balance of `62,000 on 31st March, 2022. On comparing it with the Cash Book the following discrepancies were noted:
(i) Cheques were paid into the bank in March but were credited in April:
P`3,500; Q`2,500; R − `2,000.
(ii) Cheques issued in March were presented in April:
X `4,000; Q`4,500.
(iii) Cheque for `1,000 received from a customer entered in the Cash Book but was not banked.
(iv) Pass Book shows a debit of `1,000 for bank charges and credit of `2,000 as interest.
(v) Interest on investment `2,500 collected by the bank appeared in the Pass Book.
Prepare Bank Reconciliation Statement showing the balance as per Cash Book on 31st March, 2022.

Answer:


Bank Reconciliation Statement

as on March 31, 2022

S. No.

Particulars

Plus Items

(`)

Minus Items

(`)

 

Balance as per the Pass Book

62,000

 

(i)

Cheque deposited but not credited not credited in the Pass book during

March 2017 (3,500 + 2,500 + 2,000)

8,000

 

(ii)

Cheques Issued but not presented in March 2017 (4,000 + 4,500)

 

8,500

(iii)

Cheque received from Customer was recorded in Cash Book but not sent to Bank

1,000

 

(iv)

Bank Charges

1,000

 

 

Bank allowed interest

 

2,000

(v)

Interest on Investment Collected by bank but not entered in the Cash Book

 

2,500

 

Balance as per the Cash Book

 

59,000

 

 

72,000

72,000

 

 

 

 

 

Question 12:


Prepare Bank Reconciliation Statement as on 30th September, 2022 from the following particulars:

 

   `

(i) Bank Balance as per Pass Book.

10,000

(ii) Cheque deposited into bank but no entry was passed in Cash Book.

500

(iii) Cheque received and entered in Cash Book but not sent to bank.

1,200

(iv) Insurance premium paid directly by the bank.

800

(v) Bank charges entered twice in the Cash Book.

20

(vi) Cheque received entered twice in Cash Book.

1,000

(vii) Bill discounted dishonoured not recorded in the cash book.

5,000

Answer:


Bank Reconciliation Statement

as on September 30, 2022

S. No.

Particulars

Plus Items

( `)

Minus Items

( `)

(i)

Balance as per the Pass Book

10,000

 

(ii)

Cheque deposited but not entered in the Cash Book

 

500

(iii)

Cheque entered in the Cash Book but not sent to bank

1,200

 

(iv)

Insurance premium paid directly by bank

800

 

(v)

Bank Charges entered twice in the Cash Book

 

20

(vi)

Cheque received entered twice in the Cash Book

 1,000

 

(vii)

Bill discounted dishonoured not entered in the Cash Book

5,000

 

 

Balance as per the Cash Book

 

17,480

 

 

18,000

18,000

 

 

 

 

Question 13:


Prepare Bank Reconciliation Statement as on 31st March, 2022 from the following particulars:
 

 

 

`

(i)

Bank balance as per Pass Book.

10,000

(ii)

Cheque deposited into the Bank, but no entry was passed in the Cash Book.

500

(iii)

Cheque received and entered in the Cash Book but not sent to bank.

1,200

(iv)

Credit side of the Cash Book bank column cast short.

200

(v)

Insurance premium paid directly by the bank under the standing advice.

600

(vi)

Bank charges entered twice in the Cash Book.

20

(vii)

Cheque issued but not presented to the bank for payment.

500

(viii)

Cheque received entered twice in the Cash Book.

1,000

(ix)

Bill discounted dishonoured not recorded in the Cash Book.

5,000

(x)

Bank had wrongly allowed interest of `5,000, which was reversed by it on 5th April, 2022.

 

Answer:


Bank Reconciliation Statement

as on March 31, 2022

S. No.

Particulars

Plus Items

(`)

Minus Items

(`)

(i)

Balance as per the Pass Book

10,000

 

(ii)

Cheque deposited but not entered in the Cash book

 

500

(iii)

Cheque entered in the Cash Book but not deposited in the bank

1,200

 

(iv)

Credit side of the Cash Book undercast

200

 

(v)

Insurance premium paid directly by the bank but not entered in the Cash Book

600

 

(vi)

Bank charges entered twice  in the Cash book

 

20

(vii)

Cheque issued but not presented for payment

 

500

(viii)

Cheque received entered twice in the Cash Book

1,000

 

(ix)

Bill discounted and dishonoured but not entered in the Cash Book

5,000

 

(x)

Interest allowed by the bank to be reversed

 

5,000

 

Balance as per the Cash Book

 

11,980

 

 

18,000

18,000

 

 

 

 

 

Question 14:


A Bank Reconciliation Statement is prepared as on 31st March, 2022 starting with credit balance as per Bank Pass Book. State whether the following transactions will be shown in the Bank Reconciliation Statement by adding or deducting these from the given balance giving reason:

(i) Bank had allowed interest and credited the account by ` 2,000:

(ii) Bill of Exchange for ` 5,000 realised by the bank was not recorded in Cash Book.

(iii) Bank Charges charged by the bank `1,000.

(iv) Cheques of ` 10,000 issued not recorded in the Cash Book were paid and debited to the account by the bank.

(v) Receipts Side of the Cash Book was overcast by ` 1,000.

(vi) Payments Side of the Cash Book was undercast by ` 10,000.

 

Answer:


Following transitions will be added:

Transaction no. 3, 4, 5, 6.

Reason:

Above all transactions are decreasing only pass book, Transaction no. 3, 4, 5, 6 are to be added to balance of pass book to increase to the balance of cash book.

Following transitions will be deducted:

Transaction no. 1, 2.

Reason:

Above all transactions are increasing only pass book, Transaction no. 1, 2 are to be deducted to balance of pass book to increase to the balance of cash book.

 

Question 15:


A Bank Reconciliation Statement is prepared as on 31st March, 2022 starting with credit balance as per Cash Book. State whether the following transactions will be shown in the Bank Reconciliation Statement by adding or deducting these from the given balance giving reason:

(i) Cheque of ` 5,000 deposited was dishonored.

(ii) Cheque of ` 10,000 was recorded in Cash Book but was not deposited.

(iii) A Bill of ` 10,000 discounted from Bank was dishonored.

(iv) A cheque issued to Ramesh for ` 5,500 was not recorded in Cash Book.

(v) Payments Side of the Cash Book was undercast by ` 1,000.

 

Answer:


 

Following transitions will be added:

Transaction no. 1 to 5.

 

Reason:

Above all transactions are increasing only cash book, Transaction no. 1 to 5 are to be added to balance of cash book to increase to the balance of pass book.

 

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