11th Accountancy Weekly Test - 2 ( Bank Reconciliation statement )

MABS Institution

11th Accountancy Weekly Test - 2 ( Bank Reconciliation statement )-Aug 2020

Time : 1.30 Hours

Part - A

Generic 2 - Answer All Question

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.

Dinesh received his salary in cash for Rs 5,000. He credited this amount in the bank column of cash book

On 31st, December 2017, Magesh received a bank statement from his bank, which showed a credit balance of Rs 19,700. He instructed Dinesh to check the statement with the cash book. On comparing both, Dinesh found that the cash book showed a balance of Rs 14,500. He was puzzled.

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.

Do you agree on the following statements? Write "yes" if you agree, and write "no" if you disagree.
(a) Bank reconciliation statement is prepared by the banker.
(b) Adjusting the cash book before preparing the bank reconciliation statement is compulsory.
(c) Credit balance as per bank statement is an overdraft.
(d) Bank charges debited by the bank increases the balance as per bank statement.
(e) Bank reconciliation statement is prepared to identify the causes of differences between balance as per bank column of the cash book and balance as per cash column of the cash book.

On 3rd, December, Magesh issued his savings bank account cheque for his personal expenses amounting to Rs 2,500, but Dinesh assumed this as current account cheque and the same was entered in the cash book as drawings.

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.

Which values are involved in the preparation of bank reconciliation statements?

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

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

Part - B

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

From the following particulars, prepare the bank reconciliation statement for Mr. Thirumalai Nambi as on 31.3.2014.
(a) Overdraft as per pass book on March 31, 2014 was Rs 25,000..
(b) Cheques issued before that date but present for payment after that date amounted to Rs 1,200.
(c) Cheques paid.into bank but not cleared and credited on or before 31.3.2014 amounted to Rs 3,200.
(d) Interest on overdraft amounting to Rs 175 debited hi the pass book but not entered into the cash book.
(e) Interest on investment amounting to Rs 700 was collected by bank not entered in the cash book.
(j) Bank charges Rs 22 not entered in the cash book.
(g) Rs 950 in respect of a dishonoured cheque entered in the pass book but not in the cash book.

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, 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.

What is the differences between Bank column of Cash book and Bank Statement?

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11th Accountancy Weekly Test - 2 ( Bank Reconciliation statement )

MABS Institution

11th Accountancy Weekly Test - 2 ( Bank Reconciliation statement )-Aug 2020

Part - A

Generic 2 - Answer All Question

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.

Dinesh received his salary in cash for Rs 5,000. He credited this amount in the bank column of cash book

On 31st, December 2017, Magesh received a bank statement from his bank, which showed a credit balance of Rs 19,700. He instructed Dinesh to check the statement with the cash book. On comparing both, Dinesh found that the cash book showed a balance of Rs 14,500. He was puzzled.

On 3rd, December, Magesh issued his savings bank account cheque for his personal expenses amounting to Rs 2,500, but Dinesh assumed this as current account cheque and the same was entered in the cash book as drawings.

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.

Which values are involved in the preparation of bank reconciliation statements?

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

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

Part - B

Generic 5 - Answer All Question

What is the differences between Bank column of Cash book and Bank Statement?

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