Related InterviewSolutions

• The credit balance as per Cash Book is ₹1,500. Cheques for ₹400 were deposited but were not collected. The cheques issued but not presented were ₹100, ₹125 and ₹50. Balance as per Book will be :A. ₹1,100 DebitB. ₹1,625 DebitC. ₹2,175 CreditD. ₹1,625 Credit
• Rim Zim Ltd. Maintains a current with the State Bank of India. On 31st March, 2017, the bank column of its cash book showed a debit balance of ₹1,54,300. Howerver, the bank statement showed a different balance as on that dete. The follwing were the reasons for the difference , (i) Cheques deposited, but not yet credited by the bank. ₹ (ii) Cheques issued, but not yet presented for payment 75,450 (iii) Bank charged not yet recorded int eh cash book 80,760 (iv) Cheques received by the bank directly from trade debtors 1,35,200 (v) Insurance premimum paid by the bank as per standing instructions, but not yet recorded in the cash book. 15,400 (vi) Dividend collected by the bank but not yet recorded in the cash book Find out the balance as per the bank statement as on 31st March, 2017
• The balance of cash at bank as shown by the Cash Book of Pan & Pan Co. on 31st December,m 2016, was ₹7,500. On checking the entries in the Cash Book with the Pass Book, it was ascertqained that cheques fo ₹500 and ₹700 respectively paid in on 30th December, were not credited until the 2nd January following adn three cheques of ₹600, ₹600 and ₹1,200 issued on the 28th December were not presented until the 3rd of January. There was a credit of ₹125 in the Pass Book in respect of interst under dete 31st December, which was not entered in the Cash Book. There were also Bank Charges debited in the Pass Book amounting in all to ₹10 which were not entered in the pass Book amounting in all the ₹10 whihc were not entered in the Cash Book. Prepare a Bank Reconciliation Statement as at 31st December, 2016.
• Raghav & Co. have two bank accounts, Account No. I and Account No. II. From th following particulars relating to Account No. I, find out the balance on that account on December 31,2016 according to the Cash Book of the firm. (i) Cheques paid into bank prior to December 31, 2016, but not credited until after that date for ₹10,000 (ii) Transfer of funds from Account No. II to Account No. I recorded by the bank on December 31,2016 but entered in the Cash Book after that date for ₹8,000. (iii) Cheques issued prior to December, 31 2016 but not presented until after that date for ₹7,429. (iv) bank charges debited by bank not entered in the Cash Book for ₹200. (v) Interest debited by the bank not entered in the Cash Book ₹580. (vi) Overdraft as per Pass Book ₹18,990
• Prepare a Bank Reconciliation Statement from the following particulars as on 31st March 2015 : (i) Cheques were deposited into bank of 25th March for ₹20,000. Out of these cheques for ₹8,000 were cleared on 4th April, cheques for ₹6,000 on 6th April and one cheque for ₹1,400 was dishonoured on 7th April. (ii) Cheques amounting to ₹12,000 were issued in March, out of which cheques for ₹2,000 were encashed upto 31st March. (iii) A bill for ₹5,000 (discounted with the bank in January) Dishonoured on 30th March 2015 and noting charges paid by bank ₹50. No information regarding the dishonour was received from the bank in March 2015. (iv) Cheque issued to a creditor for ₹2,000 was through mistake entered in the cash column of the Cash Book. The same has not been presented for payment till today. (v) Receipt side of the Cash Book (bank column) was undercast by ₹100. (vi) Bank has paid a bill payable amounting to ₹2,500 but is has not been entered in the Cash Book. (vii) A cheque for ₹2,000 issued to Mr. X was omitted to be recorded in Cash Book. (viii) Dr. balance as per Pass Book was ₹7,200.
• On 31st January, 2017 the Pas Book of Shri M.L. Gupta shows a debit balance of ₹41,000. Prepare b bank reconciliation from the following particulars :- 1. Cheques amounting to ₹15,600 were drawn on 27th January, 2017. Out of which cheques for ₹11,000 were encashed up to 31-1-2017. 2. A wrong debit of ₹800 has been given by the bank in the Pass Book. 3. Acheque for ₹200 was credited in the Pass Book but was not recorded in the Cash Book. 4. Cheques amounting to ₹21,000 were deposited for collection. But out of these, cheques for ₹7,400 have been credited in the Pass Book on 5th February, 2017. 5. A cheque for ₹1,0000 was returned dishonoured by the bank and was debited in the Pass Book only. 6. Interest on overdraft and bank charges amounting to ₹100 were not entered in the Cash Book. 7. A cheque of ₹500 debited in teh Cash Book omitted to be banked.
• Payment done by the account holder through issuing a cheques is entered inA. the Pass Book at the time of issuing the chequeB. the Pass Book at the time of presenting the cheque to the bank for paymentC. the Cash Book at the time of issuing the chequeD. Both (b) and ( c)
• On 31st March, 2015 the Pass Book shows a credit balance of ₹9,000. Prepare a Bank Reconciliation Statement from the following particulars :- brgt 1. Cheques issued bu t not yet presented for payment 7,000 2. Cheques issued but omitted to be recorded in the Cash Book 3,800 3. Cheques paid into bank not yet collected by the bank 2,600 4. Premium on Life Policy paid by the bank on standing advice 360 5. Payments receved from customers direct by the bank 2,000
• On 31st March, 2015 the Pass Book of Mr. Janaki Dass showed a credit balance or ₹20,000. Prepare a Bank Reconciliation Staement from the following information : (i) Cheques amounting to ₹15,000 were drawn in March 2015, out of which cheques for ₹5,500 were presente for payment on 3rdf April. (ii) A cheque for ₹5,475 was deposited into the bank, but wrongly entered in the Cash Book as ₹5,745. (iii) A cheque of ₹5,000 which was received from a customer was entered in the cash column of the Cash Book in March 2015 but was omitted to be banked in the month of March. (vi) A B/P of ₹10,000 was retired by the bank under a rebate of ₹100 but the full amount of bill was credited in the Cash Book twice ₹200.
• On 30th June 2014 Pass Book showed a balance of ₹5,200. Prepare Bank Reconciliation Statement from the folllowing particualrs :- I. Out of toal cheques amounting to ₹ 16,000 deposited, cheques amouting to ₹9,000 were credited in June 2014, and the rest have not been collected so far. II. Out of total cheques amouting to ₹45,000 drawn, cheques amounting to ₹7,500 were presented in June 2014, Cheques amounting to ₹18,000 wre presented in July 2014, and the rest have not been presented so far. III. Amount wrongly credited by bank ₹3,400. V. Cheques recorded in the Cash Book in June 2014 but sent to bank in July 2014 ₹2,500. VI. A cheque of ₹20,000 deposited in the has been dishonoured but no intimateion was received till June 2014.