Question

From the following information, prepare Bank Reconciliation Statement as on 31st March, 2021;
(i) Debit Balance of Bank Column as per Cash Book as on 31st March, 2021 * 12,000.
(ii) Balance (Credit) as per Bank Statement as on that date * 16,500.
(iii) Out of the total cheques issued of * 10,000, cheques of 3,000 were debited by Bank in
March, 2021, cheques of 4,000 were debited in April, 2021 and the rest have not been
presented yet.
(iv) Out of the total cheques deposited of 5,000, cheques of * 1,500 were credited by Bank
in March, 2021, and balance cheques were credited in April, 2021.
(v) Bank had debited 100 as bank charges and had credited * 200 as interest.
(vi) A cheque issued to S Ltd. for 3,400 was recorded in the Cash Book as 4,300.​

Answer 1

                             Bank Reconciliation Statement

A bank reconciliation statement is a summary of banking and business cash that reconciles a firm's bank account with its financial statements. The statement shows the deposits and withdrawals of a bank account.

1. Debit Balance of cash book will be written in the plus column.
2. Credit balance as per the passbook of the bank goes on the minus column.
3. Cheques were Rs. 3000 to be written in the plus column as they have been issued but not presented for payment yet.
4. Cheques of 3,5000 to be written in the minus column as they have been credited after the end of the financial year.
5. After adjusting the charges with the interest received Rs.100 to be mentioned in the plus column.
6. Rs.900 to be mentioned in the minus account as by mistake b=the cheque was recorded for 900 more than the actual value.

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Answer 2

A bank reconciliation statement is a summary of banking and business cash that reconciles a firm's bank account with its financial statements. The statement shows the deposits and withdrawals of a bank account.

           Bank Reconciliation Statement as on 31st March, 2021

Balance of cash book                                                                      12,000

Add : Cheques issued but not presented for payment yet.        +3000

         Interest received                                                                   +100

Less : Credit balance as per the passbook                                  - 16,500

          Cheques deposited                                                             -35000

          cheque recorded for more than the actual value.             -900

Balance as per bank statement                                                     (40000)

So , the above presents the Bank Reconciliation Statement as on 31st March, 2021.

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