Question

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14. The Cash book of Mr. Chauhan showed a balance of $20,000 on 31st December, 2018
at bank. The figure did not agree with the bank Pass Book. A comparison of the two revealed
a) The bank has debuted Mr. Chauhan with 76,000, the annual premium on his life policy
according to his standing instruction and with *150 as bank charges
b) The bank has credited Mr. chauhan by *15,000, the proceeds of a bill.
c) Mr.Chauhan send for collection cheque amounting 360,000 out of which cheque for 48,000
have been credited by bank till 31st December.
d) The cash collection on 31st December, 2018 totalling *25,000 was entered in the cash Book
in the bank column on the Same Day but it was banked on the 2nd January, 2019
e) Mr. Chauhan issued cheque totalling *1,00,000 of which those of *36,000 have not been
presented by 31st December,2018.
Show the correction to be made in the Cash Book so as to ascertain the balance to be shown in
the Balance Sheet and then prepare the Bank Reconciliation Statement.

Answer 1

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