Question

Question 29.
From the following information supplied by Mr. D.H., prepare his Bank Reconciliation Statement as on 31st March, 2018:
(i) Bank overdraft as per Pass Book. – ₹ 33,000
(ii) Cheques issued but not presented for payment. – ₹ 17,500
(iii) Cheques deposited but not collected. – ₹ 21,000
(iv) Cheques recorded in the Cash Book but not sent to the bank for collection. – ₹ 4,000
(v) Payment received from customers directly by the bank. – ₹ 7,000
(vi) Bank charges debited in the Pass Book. – ₹ 40
(vii) Premium of Life Insurance Policy of Mr. D.H. paid by the bank on standing instructions. – ₹ 360
(viii) A bill for ₹ 6,000 dishonoured on 30th March, 2018 and bank paid Noting charges. This bill was discounted on 30th January, 2018. – ₹ 20

Answer 1

Explanation:

answer is in the attachment given

Answer 2

The BRS (bank reconciliation statement) 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.
• In short, it is the statement which matches the records for the entries of cash account in relation to the bank statement of the company.

Working Note:

Overdraft as per Cash book = Total - Sum of (+) side

= Rs 57,500 - Rs 31,420

= Rs 26, 080

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