1 On 31st March, 2016 the pass book of Mr.Menon's Current Account showed a credit balance of 20000. Prepare Bank reconciliation statement a) Mr.Menon issued a cheque of 300 on 25th March but this was not presented for payment whereas this was recorded twice in the cash book. b) A cheque of 200 drawn on his savings deposit account has been shown as drawn on the current account in the cash book. c) A cheque of 285 issued on 28th March, was entered in the cash column. d) In the pass book, a bank charge of 25 was recorded twice while another bank charge of 17 was not recorded in the cash book. e) Bank paid LIC premium of 1500 as per standing instructions.
1 On 31st March, 2016 the pass book of Mr.Menon's Current Account showed a credit balance of 20000. Prepare Bank reconciliation statement a) Mr.Menon issued a cheque of 300 on 25th March but this was not presented for payment whereas this was recorded twice in the cash book. b) A cheque of 200 drawn on his savings deposit account has been shown as drawn on the current account in the cash book. c) A cheque of 285 issued on 28th March, was entered in the cash column. d) In the pass book, a bank charge of 25 was recorded twice while another bank charge of 17 was not recorded in the cash book. e) Bank paid LIC premium of 1500 as per standing instructions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
1 On 31st March, 2016 the pass book of Mr.Menon's Current Account showed a credit balance of 20000. Prepare
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education