Data Structure
Networking
RDBMS
Operating System
Java
MS Excel
iOS
HTML
CSS
Android
Python
C Programming
C++
C#
MongoDB
MySQL
Javascript
PHP
- Selected Reading
- UPSC IAS Exams Notes
- Developer's Best Practices
- Questions and Answers
- Effective Resume Writing
- HR Interview Questions
- Computer Glossary
- Who is Who
State the methods to prepare a bank reconciliation statement
Problem
An enterprise company has an Rs.85700/- as passbook balance and Rs.95800/- as cash book balance as on 31st march 2004.
The transactions are as follows −
- Cheque issued (personal account) of enterprise debited to firm’s account of Rs.5000/-
- Cheque deposited and yet to collect by bank of Rs.2500/-
- Cheque deposited and collected from bank and not recorded in cash books of Rs.4800/-
- Customer cheque dishonored Rs.2300/-
- Bank direct payments of Rs.3200/-
- Cheque issued and yet to present for payments of Rs.8500/-
- Customer deposited Rs.1500/- into bank
- Discounted bill is dishonored, when presented on maturity Rs.9500/-
- Bank charges Rs.250/-
- Dividends and interest (collection) by bank Rs.2800/-
Solution
The bank reconciliation statement before adjusting cash book balance is as follows−
Method 1
| Bank reconciliation statement As on 31st march, 2004 | ||
|---|---|---|
| Items (to be added) | Items (to be subtracted) | |
| Pass book (balance) Cheques wrongly debited (bank account) Cheques deposited yet to collect Cheques dishonored Direct payments (Bank) Discounted bills dishonored Bank charges |
85700 5000 2500 2300 3200 9500 250 |
|
| Cheques deposited (yet to recorded in cash book) Cheque issued (yet to presented for payment) Direct deposits Interest and dividends Balance (cash book) |
4800 8500 1500 2800 90850 |
|
| 108450 | 108450 | |
Method 2
| Bank reconciliation statement As on 31st march, 2004 | ||
|---|---|---|
| Items (to be added) | Items (to be subtracted) | |
| Cheques deposited (yet to recorded in cash book) Cheque issued (yet to presented for payment) Direct deposits |
4800 8500 1500 |
|
| Interest and dividends Balance (cash book) |
2800 90850 |
|
| Pass book (balance) Cheques wrongly debited (bank account) Cheques deposited yet to collect Cheques dishonored Direct payments (Bank) Discounted bills dishonored Bank charges |
85700 5000 2500 2300 3200 9500 250 |
|
| 108450 | 108450 | |
Updated on: 2021-07-13T12:31:09+05:30
292 Views
Advertisements