On 31st December 2011, the Pass Book of a merchant shows the credit ba

1.	On 31st December 2011, the Pass Book of a merchant shows the credit balance to be 3,357. The cheques and drafts sent to the bank but not collected and credited amounted to = 790 and three cheques drawn for RS 300, 150 and 200 respectively were not presented for payment till 31st January next year. Bank has paid a bill payable amounting to = 1,000 but it has not been entered in the Cash Book and a bill receivable of = 500 which was discounted with the bank was dishonoured by the drawee on due.date. The bank has charged = 13 as its commission for collecting outstation cheques and has allowed interest = 10 on the trader's balance. Prepare a Bank Reconciliation Statement and show the balance as shown in the Cash Bank.
Answer» On 31st December 2011, the Pass Book of a merchant shows the credit balance to be 3,357. The cheques and drafts sent to the bank but not collected and credited amounted to = 790 and three cheques drawn for RS 300, 150 and 200 respectively were not presented for payment till 31st January next year. Bank has paid a bill payable amounting to = 1,000 but it has not been entered in the Cash Book and a bill receivable of = 500 which was discounted with the bank was dishonoured by the drawee on due.date. The bank has charged = 13 as its commission for collecting outstation cheques and has allowed interest = 10 on the trader's balance. Prepare a Bank Reconciliation Statement and show the balance as shown in the Cash Bank.

On 31st December 2011, the Pass Book of a merchant shows the credit balance to be 3,357. The cheques and drafts sent to the bank but not collected and credited amounted to = 790 and three cheques drawn for RS 300, 150 and 200 respectively were not presented for payment till 31st January next year. Bank has paid a bill payable amounting to = 1,000 but it has not been entered in the Cash Book and a bill receivable of = 500 which was discounted with the bank was dishonoured by the drawee on due.date. The bank has charged = 13 as its commission for collecting outstation cheques and has allowed interest = 10 on the trader's balance. Prepare a Bank Reconciliation Statement and show the balance as shown in the Cash Bank.

Answer»

On 31st December 2011, the Pass Book of a merchant shows the credit balance to be 3,357. The cheques and drafts sent to the bank but not collected and credited amounted to = 790 and three cheques drawn for RS 300, 150 and 200 respectively were not presented for payment till 31st January next year.

Bank has paid a bill payable amounting to = 1,000 but it has not been entered in the Cash Book and a bill receivable of = 500 which was discounted with the bank was dishonoured by the drawee on due.date.

The bank has charged = 13 as its commission for collecting outstation cheques and has allowed interest = 10 on the trader's balance.

Prepare a Bank Reconciliation Statement and show the balance as shown in the Cash Bank.

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