11th Accountancy Monthly Test - 1 ( Bank Reconciliation statement )

MABS Institution

11th Accountancy Monthly Test - 1 ( Bank Reconciliation statement )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

When money is withdrawn from bank, the bank ____________.

Credits customer's account
Debits customer's account
Debits and credits customer's account
None of these

Debit balance in the Cash book means________________

Overdraft as per Pass book
Credit balance as per Pass book
Overdraft as per Cash book
None of these

When balance as per Cashbook is the starting point to ascertain balance as per Pass book interest charged by bank is__________________

added
subtracted
not adjusted
none of these

In recent times, the copy of the records can be obtained by the customer electronically, which is called _______________

E-Commerce
ATM
E-Statement
Electronic Commerce

The cheque which is deposited into bank but not cleared at the end of a particular year is called_____

Uncredited cheque
Unpresented cheque
Omitted cheque
Dishonoured cheque

When the balance as per pass book is the starting point, direct payment by the banks are ___________.

added
subtracted
neither of the two

When balance as per Cash Book is the starting poi _fstatement interest charged by Bank is:

Added
Subtracted
not adjusted
None of the above

A bank reconciliation statement is prepared by ___________.

Bank
Business
Debtor to the business
Creditor to the Business

Bank reconciliation statement is prepared by the_____________.

bank
creditor of a business
customer of a bank

A bank reconciliation statement is prepared to know the causes for the difference between:

The balance as per the cash column of the cash book and bank column of the cash book.
The balance as per the cash column of the cash book and bank statement
The balance as per the bank column of the cash book and the bank statement.
The balance as per petty cash book and the cash book

Part - B

Generic 2 - Answer All Question

What is Bank Statement? (or) What is bank pass book?

What is Alternative Presentation?

On 3rd, DecemberDinesh was asked to deposit cash of Rs 1,000 in cash deposit machine in order to make a payment to one of the business' supplier. He credited the same in the bank column of the cash book.
Substitute the following statements with one word/phrase
(a) A copy of customer's account issued by the bank
(b) Debit balance as per bank statement
(c) Statement showing the causes of disagreement between the balance as per cash book and balance as per bank statement

On 31^th March 2015 the cash book of Fashion world showed a balance of Rs 1,500 as cash at bank, but the bank pass book as on that date showed that cheques for Rs185, Rs 175 and Rs 100 had not been presented for payment. Also cheques to the amount of Rs 410 paid into the bank had not been cleared. Find out the balance as per Pass book as on that date.

Bank made payment on 23rd December, amounting to Rs 2,500, as per standing instruction. But, there is no entry in the cash book for the same.

What is meant by bank overdraft?

On 1st December, 2017, the opening balance as per cash book and bank record was the same. On 2nd December, Magesh issued a cheque for Rs 2,000 toa supplier, but the same was entered in the credit side of the cash book as Rs 200.

What is E-Statement?

When bank column of a cash book shows a credit balance, what doesn't mean?

Part - C

Generic 3 - Answer All Question

Prepare bank reconciliation statement as on 31^st December 2017 from the following information:
(a) Balance as per bank statement (pass book) is Rs.25,000.
(b) No record has been made in the cash book for a dishonour of a cheque for Rs.250.
(c) Cheques deposited into bank amounting to Rs.3,500 were not yet collected.
(d) Bank charges of Rs.300 have not been entered in the cash book.
(e) Cheques issued amounting to Rs.9,000 have not been presented for payment.

Give any three reasons for preparing bank reconciliation statement.

Given below are the entries in the bank column of the cash book and the bank statement. Prepare a bank reconciliation statement as on 31st October, 2017

Cash Book (Bank Columns)

Date Particulars Amount Rs Date Particulars Amount Rs

2017 Oct 1 To Balance b/d 20,525 2017 Oct 8 By Kokila A/c 12,000

Oct 18 To Shankar A/c 6,943 Oct 26 9740

Oct.19 To Sales Alc (Rajan) 450 Oct.28 11780

Oct.20 To Commission Alc (Babu) 200 Oct.30 720

Oct.20 To Nirmala Alc 7810 Oct.31 1688

35928 35928

2013 Sep 1 To Balance b/d 1688

Pass Book

Date Particulars
Dr
withdrawals Rs
Cr
deposits Rs
Balance Dr/Cr Rs

1.10.17 By balance b/d 20,525 Cr.

9.10.17 To Kamala 12,000 8,525 Cr.

19.10.17 By Ram 6,943 15,468 Cr

25.10.17 By Ravi 450 15,918 Cr

26.10.17 To Magesh 9,740 6,178 Cr.

27.10.17 By Kala 200 6,378 Cr.

28.10.17 To Rajan (salaries) 720 5,658 Cr

30.10.17 By Bills receivable 20,000 25,658 Cr

By Interst on Investment 1,820 23,478 Cr.

31.10.17 To Bills payable 4,000 23,478 Cr.

**Cash Book (Bank Columns)**
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
2017 Oct 1	To Balance b/d	20,525	2017 Oct 8	By Kokila A/c	12,000
Oct 18	To Shankar A/c	6,943	Oct 26		9740
Oct.19	To Sales Alc (Rajan)	450	Oct.28		11780
Oct.20	To Commission Alc (Babu)	200	Oct.30		720
Oct.20	To Nirmala Alc	7810	Oct.31		1688
		35928			35928
2013 Sep 1	To Balance b/d	1688

**Pass Book**
Date	Particulars	Dr withdrawals Rs	Cr deposits Rs	Balance Dr/Cr Rs
1.10.17	By balance b/d			20,525 Cr.
9.10.17	To Kamala	12,000		8,525 Cr.
19.10.17	By Ram		6,943	15,468 Cr
25.10.17	By Ravi		450	15,918 Cr
26.10.17	To Magesh	9,740		6,178 Cr.
27.10.17	By Kala		200	6,378 Cr.
28.10.17	To Rajan (salaries)	720		5,658 Cr
30.10.17	By Bills receivable		20,000	25,658 Cr
	By Interst on Investment		1,820	23,478 Cr.
31.10.17	To Bills payable	4,000		23,478 Cr.

List the five items having the effects of lower balance in the Pass book

What will be the effect of interest charged by the bank, if the balance is an overdraft?
Observe the above format. Why the withdrawals are shown as debit and deposits are shown as credit in a bank statement?

When you proceed to reconcile the bank account starting with 'Credit' cash book balance, how is the following dealt with and why?
(i) Cheque deposited but not yet cleared.
(ii) Interest allowed by the bank not recorded in the cash book.
(iii) Direct payment by the bank.

Explain why does money deposited into bank appear on the debit side of the cash book, but on the credit side of the bank statement?

Make a bank reconciliation statement of Mr. Udayakumar from the following particulars.
a) Balance as per cash book Rs 1,500
b) Cheques deposited but not cleared Rs 100
c) Cheques issued but not presented for payment Rs 150
d) Interest allowed by bank Rs 20

From the following information, prepare bank reconciliation statement as on 31st December, 2017 to find out the balance as per bank statement.

Particulars Rs

(i) Balance as per bank statement 6,000

(ii) Cheques deposited on 28th December, 2017 but not yet credited 2,000

(iii) Cheques issued for 10,000 on 20th December, 2017 but not yet presented for payment 3,000

(iv) Interest on debentures directly collected by the bank not recorded in cash book 4,000

(v) Insurance premium on building directly paid by the bank 1,000

	Particulars	Rs
(i)	Balance as per bank statement	6,000
(ii)	Cheques deposited on 28th December, 2017 but not yet credited	2,000
(iii)	Cheques issued for 10,000 on 20th December, 2017 but not yet presented for payment	3,000
(iv)	Interest on debentures directly collected by the bank not recorded in cash book	4,000
(v)	Insurance premium on building directly paid by the bank	1,000

Part - D

Generic 5 - Answer All Question

From the following particulars, ascertain the cash book balance as on 31st December, 2016.
(i) Overdraft balance as per bank statement Rs1,26,640
(ii) Interest on overdraft entered in the bank statement, but not yet recorded in cash book Rs 3,200
(iii) Bank charges entered in bank statement, but not found in cash book Rs 600
(iv) Cheques issued, but not yet presented for payment Rs 23,360
(v) Cheques deposited into the bank but not yet credited Rs 43,400
(vi) Interest on investment collected by the bank Rs 24,000.

Given below are the entries in the Bank column of the Cashbook and the passbook. Prepare a Bank reconciliation statement of Mr. Sekar as on August 31, 2013.

Cash Book (Bank Column)

Date Particulars Amount
Rs Date Particulars Amount
Rs

2013 Aug 1 To Balance b/d 20,525 2013 Aug 8 By Kokila A/c 12,000

To Shankar A/c 6,943 By Geetha A/c 9,740

To Sales A/c (Rajan) 450 By Latha A/c 11,780

To Commission A/c (Babu) 200 By Salaries A/c (Amala) 720

To Nirmala A/c 7,810 By Balance c/d 1,688

35,928 35,928

2013 Sep 1,688

Pass book

Date Particulars Dr.
Withdrawals
Rs Cr.
Deposits
Rs Balance
Dr./Cr.
Rs

2013 Aug 1 By balance b/d 20,525 Cr.

9 To Kokila 12,000 8,525 Cr

19 By Shankar 6,943 15,468 Cr.

25 By Rajan 450 15,918 Cr.

26 To Geetha 9,740 6,178 Cr.

27 By Babu 200 6,378 Cr.

28 To Amala 720 5,658 Cr.

30 By R/R 20,000

- By Interest 25

- By Interest on Investment 1,820 27,503 Cr.

2013 Aug 31 To B/P 4,000 25,503 Cr.

Cash Book (Bank Column)
Date	Particulars	Amount Rs	Date	Particulars	Amount Rs
2013 Aug 1	To Balance b/d	20,525	2013 Aug 8	By Kokila A/c	12,000
	To Shankar A/c	6,943		By Geetha A/c	9,740
	To Sales A/c (Rajan)	450		By Latha A/c	11,780
	To Commission A/c (Babu)	200		By Salaries A/c (Amala)	720
	To Nirmala A/c	7,810		By Balance c/d	1,688
		35,928			35,928
2013 Sep		1,688

**Pass book**
Date	Particulars	Dr. Withdrawals Rs	Cr. Deposits Rs	Balance Dr./Cr. Rs
2013 Aug 1	By balance b/d			20,525 Cr.
9	To Kokila	12,000		8,525 Cr
19	By Shankar		6,943	15,468 Cr.
25	By Rajan		450	15,918 Cr.
26	To Geetha	9,740		6,178 Cr.
27	By Babu		200	6,378 Cr.
28	To Amala	720		5,658 Cr.
30	By R/R		20,000
-	By Interest		25
-	By Interest on Investment		1,820	27,503 Cr.
2013 Aug 31	To B/P	4,000		25,503 Cr.

On 31^st December 2013 the pass book of Ms. Chandrika shows a credit balance of Rs 3,357. The cheques sent to the bank but not collected and credited amounted to Rs 790 and three cheques drawn for Rs 300, Rs 150 and Rs 200 respectively were not presented for payment till 31^st January 2014.
Bank has paid a bill payable amounting to Rs 1,000 but it has not been entered in the cash book and a bill receivable of Rs 500 which was discounted with the bank was dishonored by the drawer on due date.
The Bank has charged Rs 12 as its commission for collecting outstation cheques and has allowed interest Rs 10 on the trader's balance.
Prepare a Bank Reconciliation statement and show the balance as per cash book.

From the following particulars of Simon traders, prepare a bank reconciliation statement as on 31st March, 2018.
(a) Debit balance as per bank statement Rs 2,500
(b) Cheques deposited amounting to Rs 10,000, not yet credited by bank.
(c) Payment through net banking for Rs 2,000, omitted in the cash book.

The cash book of Dhandapani showed an overdraft of Rs 15,000. The cash book entries were checked with the entries in the pass book. The following details were disclosed. Prepare a Bank reconciliation statement to show the Bank Balances as per pass book as on 30^th June, 2013.
a) Out of the four cheques issued on 27^th June, 2013 for Rs.21,000, two cheques for Rs 12,000 alone were presented for payment on 29^th June, 2013.
b) Cheques paid into the Bank amounted Rs. 17,800. But the Bank had not cashed and credited in the pass book before that date.
c) There was an entry on the debit side of the pass book for bank charges, Rs 150.
d) The Bank had also debited the account for interest on O/D for Rs 280.
e) It was also noticed that the Bank had paid Rs 2,750 as insurance premium as per standing instructions on 29^th June, 2013.

From the following particulars of Raja traders, prepare a bank reconciliation statement as on 31^st January, 2018.
(a) Balance as per bank statement Rs 5,000
(b) Cheques amounting to Rs 800 had been recorded in the cash book as having been deposited into the bank on 25^th January 2018, but were entered in the bank statement on 2^nd February 2018.
(c) Amount received by bank through NEFT amounting to Rs 3,000, omitted in the cash book.
(d) Two cheques issued for Rs 3,000 and Rs 2,000 on 29th March 2018. Only the first cheque is presented for payment.
(e) Insurance premium on motor vehicles for Rs 1,000 paid by the bank as per standing instruction not recorded in the cash book.
(f) Credit side of cash book was undercast by Rs 700.
(g) Subsidy received directly by the bank from the state government amounting to Rs 10,000, not entered in cash book.
On 31st March, 2017, Anand's cash book showed a balance of Rs. 1,12,500. Prepare ban reconciliation statement.
a) He had issued cheques amounting to Rs. 23,000 on 28.3.2017, of which cheques amounting to Rs. 9,000 have so far been presented for payment.
b) A cheque for Rs. 6,300 deposited into bank on 27.3.2017, but the bank credited the same only on 5th April 2017.
c) He had also received a cheque for Rs. 12,000 which, although entered by him in the cash book, was not deposited in the bank."
d) Wrong credit given by the bank on 30th March 2017 for Rs.2,000.
e) On 30th March 2017, a bill already discounted with the bank for Rs. 3,000 was dishonoured, but no entry was made in the cash book.
f) Interest on debentures of Rs. 700 was received by the bank directly.
g) Cash sales of Rs. 4,000 wrongly entered in the bank column of the cash book.

Ascertain the cash book balance from the following particulars as on 31^st December, 2017:
(i) Credit balance as per bank statement Rs 2,500
(ii) Bank charges of Rs 60 have not been entered in the cash book
(iii) Cheque deposited on 28^th December 2017 for Rs 1,000 was not yet credited by the bank
(iv) Cheque issued on 24^th December 2017 for Rs 700, not yet presented for payment
(v) A dividend of Rs 400 collected by the bank directly but not entered in the cash book
(vi) A cheque of Rs 600 had been dishonoured, but no entry was made in the cash book
(vii) Interest on term loan Rs1,200 debited by bank but not accounted in cash book
(viii) No entry had been made in the cash book for a trade subscription of Rs. 500 paid vide banker's order on 23^rd December 2014.

On 31st December, 2013 the. cash book of Ms. Vijayalakshmi showed an overdraft of Rs 56,700. From the following particulars prepare the bank reconciliation statement and find out the balance as per pass book.
(a) Cheque drawn but not casbed before 31st December, 2013 amounted to Rs 39,460.
(b) Cheque paid into bank but not cleared before 31st December, 2013 amounted to Rs 48,910.
(c) A bill receivable for Rs 5,200 previously discounted with bank bad been dishonoured and debited in the pass book.
(d) Debit is also made in the pass book for Rs 1,200 on account of interest on overdues and Rs 550 on account of charges for collecting the bills and cheques.
(e) Bank has collected interest on investment and credited Rs 7,600 on the pass book.

From the following particulars prepare a bank reconciliation statement of Jayakumar as on 31^st December, 2016.
(a) Balance as per cash book Rs. 7,130.
(b) Cheque deposited but not cleared Rs. 1,000
(c) A customer has deposited Rs. 800 into the bank directly.

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11th Accountancy Monthly Test - 1 ( Bank Reconciliation statement )

MABS Institution

11th Accountancy Monthly Test - 1 ( Bank Reconciliation statement )-Aug 2020

Part - A

Multiple Choice Question - Answer All Question

When money is withdrawn from bank, the bank ____________.

Debit balance in the Cash book means________________

When balance as per Cashbook is the starting point to ascertain balance as per Pass book interest charged by bank is__________________

In recent times, the copy of the records can be obtained by the customer electronically, which is called _______________

The cheque which is deposited into bank but not cleared at the end of a particular year is called_____

When the balance as per pass book is the starting point, direct payment by the banks are ___________.

When balance as per Cash Book is the starting poi f statement interest charged by Bank is:

A bank reconciliation statement is prepared by ___________.

Bank reconciliation statement is prepared by the_____________.

A bank reconciliation statement is prepared to know the causes for the difference between:

Part - B

Generic 2 - Answer All Question

What is Bank Statement? (or) What is bank pass book?

What is Alternative Presentation?

On 3rd, DecemberDinesh was asked to deposit cash of Rs 1,000 in cash deposit machine in order to make a payment to one of the business' supplier. He credited the same in the bank column of the cash book.

Substitute the following statements with one word/phrase (a) A copy of customer's account issued by the bank (b) Debit balance as per bank statement (c) Statement showing the causes of disagreement between the balance as per cash book and balance as per bank statement

Bank made payment on 23rd December, amounting to Rs 2,500, as per standing instruction. But, there is no entry in the cash book for the same.

What is meant by bank overdraft?

On 1st December, 2017, the opening balance as per cash book and bank record was the same. On 2nd December, Magesh issued a cheque for Rs 2,000 toa supplier, but the same was entered in the credit side of the cash book as Rs 200.

What is E-Statement?

When bank column of a cash book shows a credit balance, what doesn't mean?

Part - C

Generic 3 - Answer All Question

Give any three reasons for preparing bank reconciliation statement.

List the five items having the effects of lower balance in the Pass book

What will be the effect of interest charged by the bank, if the balance is an overdraft?

Observe the above format. Why the withdrawals are shown as debit and deposits are shown as credit in a bank statement?

When you proceed to reconcile the bank account starting with 'Credit' cash book balance, how is the following dealt with and why? (i) Cheque deposited but not yet cleared. (ii) Interest allowed by the bank not recorded in the cash book. (iii) Direct payment by the bank.

Explain why does money deposited into bank appear on the debit side of the cash book, but on the credit side of the bank statement?

Make a bank reconciliation statement of Mr. Udayakumar from the following particulars. a) Balance as per cash book Rs 1,500 b) Cheques deposited but not cleared Rs 100 c) Cheques issued but not presented for payment Rs 150 d) Interest allowed by bank Rs 20

Part - D

Generic 5 - Answer All Question

From the following particulars prepare a bank reconciliation statement of Jayakumar as on 31st December, 2016. (a) Balance as per cash book Rs. 7,130. (b) Cheque deposited but not cleared Rs. 1,000 (c) A customer has deposited Rs. 800 into the bank directly.

Comment

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When balance as per Cash Book is the starting poi _fstatement interest charged by Bank is:

Substitute the following statements with one word/phrase
(a) A copy of customer's account issued by the bank
(b) Debit balance as per bank statement
(c) Statement showing the causes of disagreement between the balance as per cash book and balance as per bank statement

When you proceed to reconcile the bank account starting with 'Credit' cash book balance, how is the following dealt with and why?
(i) Cheque deposited but not yet cleared.
(ii) Interest allowed by the bank not recorded in the cash book.
(iii) Direct payment by the bank.

Make a bank reconciliation statement of Mr. Udayakumar from the following particulars.
a) Balance as per cash book Rs 1,500
b) Cheques deposited but not cleared Rs 100
c) Cheques issued but not presented for payment Rs 150
d) Interest allowed by bank Rs 20

From the following particulars prepare a bank reconciliation statement of Jayakumar as on 31^st December, 2016.
(a) Balance as per cash book Rs. 7,130.
(b) Cheque deposited but not cleared Rs. 1,000
(c) A customer has deposited Rs. 800 into the bank directly.