Question

Question 33.
From the follwoing information supplied by Sanjay, prepare his Bank Reconcilation Statement as on 31st March, 2018:
(i) Bank overdraft as per Pass Book. – ₹ 16,500
(ii) Cheques issued but not presented for payment. – ₹ 8,750
(iii) Cheques deposited with the Bank but not collected. – ₹ 10,500
(iv) Cheques recorded in the Cash Book but not sent to the bank for collection. – ₹ 2,000
(v) Payments received from customers directly by the bank. – ₹ 3,500
(vi) Bank charges debited in the Pass Book. – ₹ 200
(vii) Premium on Life Policy of Sanjay paid by the bank on standing advice. – ₹ 1,980
(viii) A bill for ₹ 3,000 (discounted with the bank in February) dishonoured on 31st March, 2018 and noting charges paid by the bank. – ₹ 100

Answer 1

bank. – ₹ 3,500

(vi) Bank charges debited in (discounted with the bank in February) dishonoured on 31st March, 2018 and noting charges paid by the

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 28,750 - Rs 17,780

= Rs10,970

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