11:33 e7 ll B/s32An amount of Rs. 1,200 for interest on overdrat was uevneu Ha ruUR vut wasintimated to Mr. Zubair on 2nd July, 2017.4.3.Collection charges of Rs. 28 were entered in the Pass Book but not in the Cash Book.5.Mr. Zubair paid into his bank account in cash an amount of Rs. 4,000 but It waewrongly eredited to Mr. Yousaf's account.6.On 30th June, 2017, the bank recelved interest of Rs. 3,000 from a company on Mr.Zubair's deposits with that company : (You are required to find out the balance as perthe Pass Book.)[Bank overdraft as per the Pass Book Rs. 36,228]The Bank Statement Account No, 16 of Mr. Saleem showed an overdraft of Rs. 134,300 on31st December, 2016. On going through the Pass Book and the Cash Book, the accountantfound the following:A cheque for Rs. 4,320 wrongly credited in the Bank Statement on 28th December,Ans:13.1.2016, and being dishonored again debited in the Bank Statement on 1st January, 2017.There was no entry in the Cash Book about the dishonor of the cheque until 15 Jan.2017.2.Interest collected and credited by the bank in the Bank Statement on Mr. Saleem'sbehalf but the same had not been recorded in his Cash Book Rs. 11,200.Cheques of Rs. 82,000 paid into the bank for collection on 30th Dec. but chequesamounted to Rs. 30,000 were collected on 7th January, 2017.3.4.Out of cheques amounting to Rs. 31,200 drawn by him on 27th December, a chequefor Rs. 10,000 was encashed on 3rd January, 2017.The banker has given him a wrong credit for Rs. 2,000 paid in by him in anotheraccount (A/e No. 17) and a wrong debit in respecet of a cheque for Rs. 1,200 drawn onAccount No. 17.Reg: Prepare a Bank Reconciliation Statement as on 31st December, 2016.NOTE: The cheque for Rs. 4,320 debited in the Cash Book and eredited in the Pass Book before 31stDecember itself. Therefore, no difference will arise in the balances on 31.12.2016. Thischeque was dishonored on 1st January, so this should not be considered in the statement.(Balance as per the Cash Book (Cr.) Rs. 126,300]Prepare a Bank Reconciliation Statement from the following particulars :Overdraft balance as per the Pass Book (Dr.) on 31.12.2017, Rs. 10,000.Bank charges for collecting an out station cheque Rs. 15 appeared only in the PasAns:14.1.2.Вook.Interest on overdraft charged by the bank for half year, Rs. 550, debited in the FaBook only.Two cheques for Rs. 15,000 and Rs. 10,000 paid in on 30th December, 2017, were horcredited by the bank.Two cheques for Rs. 2,100 and Rs. 8,000 issued in December 2017 had not beenpresented at the bank during the month.[Balance as per the Cash Book (Dr.) Rs. 5,465]3..4.5.Ans:Scanned with CaicanerASH BOOK AND BANK RECONCILITATION STATEMENT247On 31st March, 2017, the Bank Balance of Mr. Safdar Khan appeared atRs. 6,800 in his Cash Book. On reconciling with the Pass Book the following information wasascertained. You are required to show the balance as per the Pass Book on 31.03.2017.1.15.Debit in réspect of the bank charges Rs. 64, credit in respect of the bank interest Rs.280 and dividend received by the bank as Rs.1,800 were not passed in the Cash Book.A Bill Receivable for Rs. 1,400 was realized by the bank, but no entry was passed inthe Cash Book.Cheques for Rs. 1,400 were issued but not yet presented for payment.Cheques for Rs. 1,600 were paid into the bank, but not collected and credited by thebank.A cheque for Rs. 20 was not shown in the Cash Book as dishonored.2.3.4.5.(Balance as per the Pass Book (Cr.) Rs. 9,996]Prepare a Bank Reconciliation Statement with the help of revised cash book from undermentioned items as on 31.12.2016.1.Ans:16.Cash and cheques totaling Rs. 147,800 were sent to the bank in the month ofDecember, but out of them one cheque for Rs. 18,000 was credited in the Pass Book on2nd January, 2017.On 26th December cheques were issued in favor of Creditors for Rs. 38,000, but out ofthem two cheques for Rs. 28,000 were encashed on 3rd January, 2017.2.One customer had deposited directly into the bank Rs. 5,000 but it was not mentionedin the Cash Book.The trader had withdrawn from the bank Rs. 14,000 but the same had not beenentered in the Cash Book.On 29th December, a cheque for Rs. 12,000 was received and entered in the CashBook but had been omitted to be sent to the bank.On 27th December, 2016 Rs. 700 were credited in the Pass Book as interest on depositsbut the same had been recorded in the Cash Book on 31st December, 2016.Bank balance as per the Cash Book Rs. 80,000.[Balance as per revised Cash Book Rs. 71,000; Balance as per the Pass Book (Cr.) Rs. 69,000)From the following particulars of Mr. Nasir Ali, prepare a Bank Reconciliation Statementwith the heln of revised cash book as on 31st December, 2017.3.4.5.6.7.Ans:17.

Bank reconciliation statement is prepared where an entry which is found in one book (Cash book or…

The Bank Statement Account No. 16 of Mr. Saleem showed an overdraft of Rs. 134,300 on 31st December, 2016. On going through the Pass Book and the Cash Book, the accountant found the following: 1. 13. A cheque for Rs. 4,320 wrongly eredited in the Bank Statement on 28th December, 2016, and being dishonored again debited in the Bank Statement on 1st January, 2017. There was no entry in the Cash Book about the dishonor of the cheque until 15 Jan. 2017. Interest collected and credited by the bank in the Bank Statement on Mr. Saleem's behalf but the same had not been recorded in his Cash Book Rs. 11,200. 2. Cheques of Rs. 82,000 paid into the bank for collection on 30th Dec. but cheques amounted to Rs. 30,000 were collected on 7th January, 2017. 3. Out of cheques amounting to Rs. 31,200 drawn by him on 27th December, a cheque for Rs. 10,000 was encashed on 3rd January, 2017. The banker has given him a wrong credit for Rs. 2,000 paid in by him in another account (A/e No. 17) and a wrong debit in respect of a cheque for Rs. 1,200 drawn on Account No. 17., 4. Req : Prepare a Bank Reconciliation Statement as on 31st December, 2016. NOTE: The cheque for Rs. 4,320 debited in the Cash Book and eredited in the Pass Book before 31st December itself. Therefore, no difference will arise in the balances on 31.12.2016. This cheque was dishonored on 1st January, so this should not be considered in the statement. (Balance as per the Cash Book (Cr.) Rr. 126,300] Ans:

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q