Question

Question 31.
Prepare Bank Reconcilation Statement form the following particulars and show balance as per Cash Book:
(i) Balance as per Pass Book on 31st March, 2018 overdrawn ₹ 10,000.
(ii) Cheques drawn in the last week of March, 2018 but not cleared till 3rd April, 2018 ₹ 20,000.
(iii) Interst on bank overdraft not entered in the Cash Book ₹ 1,500.
(iv) Cheques of ₹ 20,000 deposited in the bank in March, 2018 but not collected and credited till 3rd April, 2018.
(v) ₹ 100 Insurance premium paid by the bank under a standing order has not been entered in the Cash Book.
(iv) A draft of ₹ 10,000 favouring Atul & Co. was issued by the bank charging commission of ₹ 200. However, in the Cash Book entry was passed by ₹ 10,000.

Answer 1

Explanation:

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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 30,000 - Rs 21,800

= Rs 8,200

You can learn more from here about BRS:

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You can learn more from here about BRS:

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