On 1st January, 2018, Naresh had an overdraft of ₹ 40,000 as shown by his Cash Book in the bank column. Cheques amounting to ₹ 10,000 had been deposited by him but were not collected by the bank by 1st January, 2018. He issued cheques of ₹ 7,000 which were not presented to the bank for payment up to that day. There was also a debit in his Pass Book of ₹ 600 for interest and ₹ 500 for bank charges.Prepare a Bank Reconciliation Statement.

On 1st January, 2018, Naresh had an overdraft of ₹ 40,000 as shown

1.	On 1st January, 2018, Naresh had an overdraft of ₹ 40,000 as shown by his Cash Book in the bank column. Cheques amounting to ₹ 10,000 had been deposited by him but were not collected by the bank by 1st January, 2018. He issued cheques of ₹ 7,000 which were not presented to the bank for payment up to that day. There was also a debit in his Pass Book of ₹ 600 for interest and ₹ 500 for bank charges.Prepare a Bank Reconciliation Statement.
Answer» On 1st January, 2018, Naresh had an overdraft of ₹ 40,000 as shown by his Cash Book in the bank column. Cheques amounting to ₹ 10,000 had been deposited by him but were not collected by the bank by 1st January, 2018. He issued cheques of ₹ 7,000 which were not presented to the bank for payment up to that day. There was also a debit in his Pass Book of ₹ 600 for interest and ₹ 500 for bank charges. Prepare a Bank Reconciliation Statement.