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

MABS Institution

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

Time : 1.30 Hours

Part - A

Multiple Choice Question - Answer All Question

Credit balance in the bank column of the cash book means

Credit balance as per bank statement
Debit balance as per bank statement
overdraft as per cash book
None of these above

Bank reconciliation statement is_________.

Part of bank statement
Part of the cash book
a separate statement
A sub-division of journal

Interest will be charged for the amount overdrawn is____________

Overdraft
Profit
Loss
Income

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

When the balance as per Cash Book is the starting point to ascertain balance as per bank statement, direct payments by bank are:

Added
subtracted
not adjusted
None of the above

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

Uncollected cheques are also known as __________

outstanding cheques
Uncleared cheques
Outstation cheques
Both a & c

Balance as per bank statement is Rs. 1,000. Cheque deposited, but not yet credited by the bank is Rs. 2,000. What is the balance as per bank column of the cash book?

Rs 3,000 overdraft
Rs 3,000 favourable
Rs 1,000 overdraft
Rs 1,000 favourable

When balance as per Cash Book is the starting point, to ascertain balance as per bank statement interest allowed by bank is

Subtracted
added
not adjusted
None of the above

A bank pass book is a copy of_____________

the cash column of a customer's cash book
the bank column of a customer's cash book
the customer's account in the bank's ledger
none of these

Part - B

Generic 2 - Answer All Question

Give any two expenses which may be paid by the banker as per standing instruction.

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 meant by bank overdraft?

When bank column of a cash book shows a debit balance, what does it means?

What is Alternative Presentation?

Part - C

Generic 3 - Answer All Question

Rony is the proprietor of Veena photos. The bank column of cash account of his business was balanced on 31^st March 2018. It showed an overdraft of Rs.12,000. The bank statement of Veena photos showed a credit balance of Rs.5,000. Prepare a bank reconciliation statement taking the following into account.
(a) The bank had directly collected dividend Rs.3,000 but was not entered in the cash book.
(b) Cheques amounting to Rs.9,000 were issued on 27^th March 2018, of which, cheques amounting to Rs.7,000 were not presented for payment before 31^st March 2018.
(c) The debit balance in the cash book of Rs.4,100 was brought forward as a credit balance.
(d) Cheque book charges of Rs.200 debited by the bank but not recorded in cash book.
(e) Bank locker rent of Rs.1,000 debited by the bank but not recorded in cash book.

Give any three reasons for preparing bank reconciliation statement.

What are the causes of difference between bank column of the cash book and 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.

Why is the preparation of Bank Reconciliation Statement necessary?

Part - D

Generic 5 - Answer All Question

Prepare bank reconciliation statement from the following data.

Particulars Rs

(i) Credit balance as per cash book 5,000

(ii) Cheques deposited but not yet credited 3,000

(iii) Cheque issued but not yet presented for payment 4,000

(iv) Rent collected by the bank as per standing instruction 120

(v) Interest on overdraft debited by bank 760

(vi) Amount wrongly debited by bank 300

(vii) Cheque issued on 30th December 2017 dishonoured by the bank 520

(viii) A customer's cheque deposited in the bank dishonoured by bank not recorded in the book 55

Particulars	Rs
(i) Credit balance as per cash book	5,000
(ii) Cheques deposited but not yet credited	3,000
(iii) Cheque issued but not yet presented for payment	4,000
(iv) Rent collected by the bank as per standing instruction	120
(v) Interest on overdraft debited by bank	760
(vi) Amount wrongly debited by bank	300
(vii) Cheque issued on 30th December 2017 dishonoured by the bank	520
(viii) A customer's cheque deposited in the bank dishonoured by bank not recorded in the book	55

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.

Prepare bank reconciliation statement from the following data.

Particulars Rs

Bank overdraft as per bank statement 6,500

Cheques issued, but not yet presented for payment 8,750

Cheques deposited but not yet credited by the bank 500

Business customer directly deposited into cash deposit machine 3,500

Bank charges not entered in the cash book 200

Bank paid rent as per standing instruction 1,980

Particulars	Rs
Bank overdraft as per bank statement	6,500
Cheques issued, but not yet presented for payment	8,750
Cheques deposited but not yet credited by the bank	500
Business customer directly deposited into cash deposit machine	3,500
Bank charges not entered in the cash book	200
Bank paid rent as per standing instruction	1,980

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

Particulars Rs

(i) Bank overdraft as per cash book 20,000

(ii) Cheques deposited but not yet credited 4,000

(iii) Cheque issued but not yet presented for payment 1,000

(iv) Rent collected by the bank as per standing instruction 500

(v) Interest on overdraft debited by bank 2,000

(vi) Amount wrongly debited by bank 300

(vii) Cheque issued on 30th December 2017 dishonoured by the bank 5,000

(viii) A customer's cheque deposited in the bank dishonoured by bank not recorded in the book 2,000

Particulars	Rs
(i) Bank overdraft as per cash book	20,000
(ii) Cheques deposited but not yet credited	4,000
(iii) Cheque issued but not yet presented for payment	1,000
(iv) Rent collected by the bank as per standing instruction	500
(v) Interest on overdraft debited by bank	2,000
(vi) Amount wrongly debited by bank	300
(vii) Cheque issued on 30th December 2017 dishonoured by the bank	5,000
(viii) A customer's cheque deposited in the bank dishonoured by bank not recorded in the book	2,000

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

MABS Institution

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

Part - A

Multiple Choice Question - Answer All Question

Credit balance in the bank column of the cash book means

Bank reconciliation statement is_________.

Interest will be charged for the amount overdrawn is____________

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

When the balance as per Cash Book is the starting point to ascertain balance as per bank statement, direct payments by bank are:

Debit balance in the Cash book means________________

Uncollected cheques are also known as __________

Balance as per bank statement is Rs. 1,000. Cheque deposited, but not yet credited by the bank is Rs. 2,000. What is the balance as per bank column of the cash book?

When balance as per Cash Book is the starting point, to ascertain balance as per bank statement interest allowed by bank is

A bank pass book is a copy of_____________

Part - B

Generic 2 - Answer All Question

Give any two expenses which may be paid by the banker as per standing instruction.

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 meant by bank overdraft?

When bank column of a cash book shows a debit balance, what does it means?

What is Alternative Presentation?

Part - C

Generic 3 - Answer All Question

Give any three reasons for preparing bank reconciliation statement.

What are the causes of difference between bank column of the cash book and 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.

Why is the preparation of Bank Reconciliation Statement necessary?

Part - D

Generic 5 - Answer All Question

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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.