Financial Accounting - Bank Reconciliation Statement

 

Easy Level

3 Marks Question 

Question:
On 31st March, the bank balance as per the cash book of Mr. A shows ₹10,000. However, cheques issued worth ₹2,000 are not yet presented to the bank, and cheques of ₹1,500 are deposited but not yet cleared. Prepare a Bank Reconciliation Statement.

Answer:

Particulars	Amount (₹)
Balance as per Cash Book	10,000
Add: Cheques deposited but not cleared	1,500
Less: Cheques issued but not presented	(2,000)
Balance as per Pass Book	9,500

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5 Marks Question 

Question:
On 31st December, the passbook of Mr. B shows a bank balance of ₹15,000. The following differences are noted:

• A cheque of ₹2,500 issued to a supplier was not presented until 5th January.
• ₹1,800 deposited into the bank was credited on 2nd January.
• Bank charges of ₹100 were debited in the passbook but not recorded in the cash book.
  Prepare a Bank Reconciliation Statement.

Answer:

Particulars	Amount (₹)
Balance as per Pass Book	15,000
Add: Cheque issued but not presented	2,500
Less: Cheque deposited but not credited	(1,800)
Less: Bank charges debited	(100)
Balance as per Cash Book	15,600

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Medium Level

3 Marks Question 

Question:
The bank balance as per the passbook is ₹12,000, while the cash book shows ₹13,200. On examination, the following differences were noted:

• Cheques issued worth ₹1,500 have not yet been presented.
• The bank collected interest on fixed deposits ₹300 not recorded in the cash book.
  Prepare a Bank Reconciliation Statement.

Answer:

Particulars	Amount (₹)
Balance as per Pass Book	12,000
Add: Cheques issued but not presented	1,500
Add: Interest on fixed deposits not recorded	300
Balance as per Cash Book	13,800

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5 Marks Question 

Question:
On 31st January, the passbook of Mr. C shows a credit balance of ₹25,000. The following discrepancies were identified:

• A cheque of ₹6,000 deposited on 28th January was credited on 2nd February.
• Bank interest of ₹500 was credited to the account but not recorded in the cash book.
• Cheques issued totaling ₹3,000 have not been presented.
• Direct debit by the bank for insurance premium ₹1,200 was not recorded in the cash book.
  Prepare a Bank Reconciliation Statement.

Answer:

Particulars	Amount (₹)
Balance as per Pass Book	25,000
Add: Cheques issued but not presented	3,000
Add: Bank interest credited	500
Less: Cheque deposited but not credited	(6,000)
Less: Insurance premium direct debit	(1,200)
Balance as per Cash Book	21,300

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Difficult Level

3 Marks Question 

Question:
The bank balance as per the cash book is ₹8,000 on 30th June. On verifying the bank statement, the following differences were identified:

• Bank interest of ₹200 credited by the bank, not recorded in the cash book.
• ₹600 cheque deposited was dishonored and returned unpaid but no entry has been made in the cash book.
  Prepare a Bank Reconciliation Statement.

Answer:

Particulars	Amount (₹)
Balance as per Cash Book	8,000
Add: Bank interest credited	200
Less: Dishonored cheque	(600)
Balance as per Pass Book	7,600

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5 Marks Question 

Question:
On 31st March, the passbook of XYZ Ltd. shows a balance of ₹50,000. On reconciling with the cash book, the following were found:

• Cheques deposited worth ₹10,000 were returned unpaid by the bank.
• A cheque of ₹4,000 issued to a supplier was recorded twice in the cash book.
• Bank charges of ₹500 were debited in the passbook but not recorded in the cash book.
• A direct deposit by a customer of ₹6,000 was not recorded in the cash book.
  Prepare a Bank Reconciliation Statement.

Answer:

Particulars	Amount (₹)
Balance as per Pass Book	50,000
Add: Cheque issued recorded twice	4,000
Add: Direct deposit by customer	6,000
Less: Dishonored cheque	(10,000)
Less: Bank charges	(500)
Balance as per Cash Book	49,500