Question

25. From the following particulars prepare a Bank Reconciliation Statement in the books of Sh.P. Kansal
won 30 June 2020:
Balance as per Passbook on 30 June 2020 * 6,000
Out of total cheques amounting to *37.500 drawn by Sh. Kansal, Cheques aggregating €5,000 wera
encashed in June 2020, Cheques agregating 34,000 were encased in July 2020 and the rest have
not been presented at all.
TIL Out of total Cheques amounting to +12,000 deposited, Cheguei aggregating 7,500 were credited in
June 2020, cheques aggrcgating #2,000 were credited in July 2020 and the rest have not been
collected at all
IV. Bank has charged 27 as ils conmission for collecting outstanding cheques and has allowed interest
330 on his bank balance.
V. Amount wrongly debited by bank *) ACO
VL A cheque or + 1.200 was entered in the Cash Book in June 2020 but was sent to the bank in July 2020,
VIL A cheque of 13 300 pald into the bank was returned dishonored but no intimation was received
from the bank bilf June 2020.​

Answer 1

Answer:

25. From the following particulars prepare a Bank Reconciliation Statement in the books of Sh.P. Kansal

won 30 June 2020:

Balance as per Passbook on 30 June 2020 * 6,000

Out of total cheques amounting to *37.500 drawn by Sh. Kansal, Cheques aggregating €5,000 wera

encashed in June 2020, Cheques agregating 34,000 were encased in July 2020 and the rest have

not been presented at all.

TIL Out of total Cheques amounting to +12,000 deposited, Cheguei aggregating 7,500 were credited in

June 2020, cheques aggrcgating #2,000 were credited in July 2020 and the rest have not been

collected at all

IV. Bank has charged 27 as ils conmission for collecting outstanding cheques and has allowed interest

330 on his bank balance.

V. Amount wrongly debited by bank *) ACO

VL A cheque or + 1.200 was entered in the Cash Book in June 2020 but was sent to the bank in July 2020,

VIL A cheque of 13 300 pald into the bank was returned dishonored but no intimation was received

from the bank bilf June 2020.

Answer 2

Answer:

Bank Reconciliation Statement

Explanation:

Statements of bank reconciliation can be used to spot fraud, inconsistencies, and mistakes in accounting. For instance, there might have been a mistake or fraud if the company's records show a payment was collected and paid but the bank statement does not reflect this.

Another technique to make sure the account has enough money in it to cover business expenses is to check to see if a company's listed balances and its bank's listed balances line up. The procedure enables the business to keep track of any bank fees or interest payments the account has received.

A company can manage its accounts payable and receivable and comprehend its cash flow thanks to the reconciliation procedure.

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