Question 20.
Prepare Bank Reconciliation Statement from the following:
On 31st March, 2018, a merchant’s Cash Book showed a credit bank balance of ₹ 10,500 but due to the following reasons the Pass Book showed a difference.
(i) A cheque of ₹ 540 issued to Mohan has not been presented for payment.
(ii) A post-dated cheque for ₹ 100 has been debited in the bank column of the Cash Book but under no circumstances was it possible to prove it.
(iii) Four cheque for ₹ 1,200 sent to the bank have not been collected so far. A cheque of ₹ 400 deposited in the bank has been dishonoured.
(iv) As per instructions, the bank paid ₹ 50 as Fire Insurance premium but the entry has not been made in the Cash Book.
(v) There was a debit in the Pass Book of ₹ 15 in respect of bank charges and a credit of ₹ 25 for interest on Current Account but no record exists in the Cash Book.
(vi) Cheque of ₹ 5,000 dated 15th April, 2018 issued to M & Co. was dishonoured being post dated. It was also not recorded in the books of account yet.
Answers
Answer:
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Explanation:
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Bank Reconciliation Statement as on 31.3.2018
Explanation:
Bank Reconciliation Statement
as on 31.3.2018
Particulars Rs.(+) Rs.(-)
- O/D as per Cash Book - 10,500
- Cheque issued but not presented 540 -
- Post dated cheque entered in Cash book
but not deposited - 100
- Cheque deposited but not cleared - 1200
- Cheque dishonored - 400
- Insurance Premium paid by Bank was not - 50
entered in Cash Book
- Bank Charges - 15
- Bank allowed Interest 25 -
- O/D as per Pass book 11700 -
12265 12265