Question

Question 32.
Bank Pass Book of Mr. X showed an overdraft of ₹ 33,575 on 31st March 2018. On going through the Pass Book the accountant found the following:
(i) A cheque of ₹ 1,080 credited in the Pass Book on 28th March, being dishonoured is debited again in the Pass Book on 1st April, 2018. There was no entry in the Cash Book about the dishonour of the cheque until 15th April.
(ii) Bankers had credited his account with ₹ 2,800 for interst collected by them on his behalf but the same had not been entered in his Cash Book.
(iii) Out of ₹ 20,500 paid by Mr. X in cash and by cheques on 31st March, cheque amounting to ₹ 7,500 were collected on 7th April.
(iv) Out of chequs amounting to ₹ 7,800 drawn by him on 27th March, a cheque for ₹ 2,500 was enchased on 3rd April.
(v) A credit wrongly given by bank of ₹ 5,500 was reveresed by it on 6th April, 2018.
Prepare Bank Reconcilation Statement on 31st March, 2018.

Answer 1

Explanation:

The answer for your question is here....

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.

Note: Point 1 as the cheque got dishonoured, will not have any affect on bank reconciliation statement.

Working Note:

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

= Rs 44,375 - Rs 7,500

= Rs 36,875

You can learn more from here about BRS:

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You can learn more from here about BRS:

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