Question

On 30th September, 2017, the bank account of Neel, according to the bank column of the Cash-
Book, was overdrawn to the extent of Rs. 8,124. On the same date the bank statement showed a
debit balance of Rs. 41,516 in favour of Neel. An examination of the Cash Book and Bank.
Statement reveals the following:1. A cheque for Rs. 26,28,000 deposited on 29th September, 2017 was credited by the bankonly on 3rd October, 20172. A payment by cheque for Rs. 32,000 has been entered twice in the Cash Book.3. On 29th September, 2017, the bank credited an amount of Rs. 2,34,800 received from acustomer of Neel, but the advice was not received by Neel until 1st October, 2017.4. Bank charges amounting to Rs. 1,160 had not been entered in the Cash Book.5. On 6th September, 2017, the bank credited Rs. 40,000 to Neel in error.6. A bill of exchange for Rs. 2,80,000 was discounted by Neel with his bank. This bill wasdishonoured on 28th September, 2017 but no entry had been made in the books of Neel.7. Cheques issued upto 30th September, 2017 but not presented for payment upto that datetotalled Rs. 26,52,000.You are required :(a) to show the appropriate rectifications required in the Cash Book of Neel, to arrive at the correctbalance on 30th September, 2017 and(b) to prepare a bank reconciliation statement as on that date.

Answer 1

Explanation:

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Answer 2

Answer:

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