Question

Prepare bank reconciliation statement as on December 31, 2017. This day
the passbook of Mr. Himanshu showed a balance of Rs. 7,000.
(a) Cheques of Rs. 1,000 directly deposited by a customer.
(b) The bank has credited Mr. Himanshu for Rs. 700 as interest.
(c) Cheques for Rs. 3000 were issued during the month of December but of
these cheques for Rs. 1,000 were not presented during the month of
December.

Answer 1

The bank reconciliation statement is shown below:

Explanation:

Bank reconciliation statement is the statement which states the process, in which it explains the difference on the particular date among the bank balance shown in the business bank statement, which as supplied through the bank and amount shown in the business accounting recording prepared by them.

Statement of Bank reconciliation

Addition:

Pass book balance                                                           Rs7,000

Total                                                                                   Rs 7,000

                                                                                

Subtraction:

Cheques issued but not presented yet                          Rs 1,000

Interest allowed by bank                                                  Rs 700

Balance as per Cash book                                               Rs 4,300

Total                                                                                    Rs 7,000

Working Note:

Balance as per Cash book = Total - (Cheques issued but not presented + Interest allowed by bank)

= Rs7,000 - Rs1,700

= Rs 4,300

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