Question

On 30th September 2018 the bank account of XYZ Ltd. According to the bank column of cash book, was overdrawn to the extent of Rs.8062. An examination of the Cash book and Bank Statement reveals the following: a) b) A cheque for Rs.11,14,000 deposited on 29th Sep 2018 was wrongly recorded in cash column in both the sides. A payment by cheque for Rs.18000 has been entered twice in the cash book. c) On 29th Sep 2018, the bank credit an amount of Rs.115400 received from customer of XYZ, but the advice was not received by XYZ until 1st October 2018. d) e) Bank charges amounting to Rs.280 had not been entered in the cash book On 6th Sep 2018 the bank credited Rs.30,000 to XYZ in error f) A bill of exchange for Rs.160,000 was discounted by XYZ Ltd. With his bank. The bill was dishonored on 28th Sep 2018 but no entry had been made in the books of XYZ. g) A bill payable of Rs.200,000 had been paid bills receivable for Rs.60, had been by bank but was entered in the cash book and discounted with the bank at a cost of Rs.1000 which had also not been recorded in the cash book. h) Cheques issued upto 30th September, 2018 but not presented for payment upto that date totaled Rs.13,46,000 You are required to show the appropriate rectifications required in cash book of XYZ Ltd. To arrive at the correct balance on 30th September, 2018 and to prepare a bank reconciliation statement as on that date.​

Answer 1

Explanation:

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Answer 2

Answer:

Balance as per Pass Book (Cr,) = ₹2,254,118

Explanation:

Bank Reconciliation Statement as on 30th September,2018

Balance as per overdraft of cash book (Cr.) = ₹ 8,062

-Cheque deposited wrongly recorded in cash column = ₹11,14,000

-Payment of cheque entered twice = ₹ 18,000

-Directly deposited by customer in bank = ₹1,15,400

-Bank credited in error = ₹30,000

-Bills received = ₹60

-Cheque not presented for payment=₹13,46,000

+Discounted with bank not recorded in cash book = ₹1000

+Bank debited charge =  ₹280

+ Bill of exchange dishonoured = ₹1,60,000

+Bills of payable paid = ₹ 2,00.000

Balance as per Pass Book (Cr,) = ₹2,254,118

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