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Bank Reconciliation Statement Test 17

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Bank Reconciliation Statement Test 17
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Unfavourable balance as per pass book means which of the following?
    Solution
    Unfavourable balance as per pass book means debit balance or overdraft in the passbook. Passbook is a copy of the customer's account with the bank. It is prepared by the bank with the point of view of the bank. When we take a loan from the bank, we become debtor (asset) for the bank. So, the bank represents it by showing a debit balance overdraft balance in our passbook.
  • Question 2
    1 / -0
    Bank balance as per cash book (Dr.) Rs. $$27,450$$. A comparison of pass book and cash book revealed the following:
    - Bank charges Rs. $$200$$ was not entered in cash books.
    - Cheques amounting to Rs. $$250$$ has been dishonoured but not recorded in cash book.
    Balance as per pass book will be _____ .
    Solution
    The reconciliation is as follows :
      ParticularsAmount in Rs. 
      Balance as per cash book (Dr.)$$27450$$ 
     LessBank charges not entered in cash book $$200$$ 
     LessCheque deposited but dishonoured  $$250$$ 
      Balance as per pass book (Cr.)$$27000$$ 
  • Question 3
    1 / -0
    On $$31$$st March, $$2012$$ the pass book of Z showed a credit balance of Rs. $$2,16,000$$. A comparison of pass book and cash book revealed the following:
    - Cheques deposited but not cleared by $$31$$st March $$1,08,150$$
    - Cheques issued by Z but not $$26,000$$ presented for payment before $$1$$st April, $$2012$$
    Balance as per cash book will be ______ .
    Solution
    The reconciliation is as follows :
      ParticularsAmount in Rs. 
      Balance as per pass book (Cr.)$$216000$$ 
     AddCheque deposited but not cleared $$108150$$ 
     LessCheque issued but not presented for payment $$26000$$ 
      Balance as per cash book (Dr.)$$298150$$ 
  • Question 4
    1 / -0
    Which of the following will not require adjustment of the cash book balance?
    Solution
    While preparing an adjusted cash book only those entries are considered which effect the cash book or the errors or omissions in the cash book.
    The errors in the pass book  are to be ignored as mentioned above.
    Cheques issued but not presented for payments and cheque deposited but not cleared, in both these cases the entry for the same has been entered in the cash book and so it would not be considered for the adjusted cash book. 
  • Question 5
    1 / -0
    Unfavourable balance as per cash book means which of the following?
  • Question 6
    1 / -0
    A bank reconciliation statement is prepared to find out the causes of the difference between:
    Solution
    A bank reconciliation statement reconciles the differences between the balance shown by the bank column of the cash book with the balance shown by the passbook.
    Bank Reconciliation Statement is prepared by the businessman who maintains their account in the bank.

  • Question 7
    1 / -0
    On $$30$$th September overdraft as per pass book of S Ltd. was Rs. $$32,400$$. The bank had directly collected dividend of other companies Rs. $$1,750$$ and interest Rs. $$1,200$$. As per standing instruction bank has paid bills of Rs. $$2,454$$. Cheque deposited for Rs. $$8,929.60$$ was not credited in pass book. Balance as per cash book should be ________ .
    Solution
    The reconciliation is as follows :
      Particulars Amount in Rs. 
      Overdraft as per pass book$$32400$$ 
     AddDividend collected by bank directly $$1750$$ 
     AddInterest collected by bank directly $$1200$$ 
     LessBills paid as per standing instructions $$2454$$ 
     LessCheque deposited but not credited in pass book $$8929.60$$ 
      Overdraft as per cash book$$ 23966.40$$
  • Question 8
    1 / -0
    Which of the following will require adjustment of the cash book balance?
    Solution
    While preparing an adjusted cash book only those entries are considered which affect the cash book or the errors or omissions in the cash book.
    Cheques issued but not presented for payments, in this case, the entry for the same has been entered in the cash book and so it would not be considered for the adjusted cash book. And as for the errors in the passbook they are to be ignored as mentioned above.
  • Question 9
    1 / -0
    Which of the following will require adjustment of the cash book balance?
    Solution
    While preparing an  adjusted cash book only those entries are considered which effect the cash book or the errors or omissions in the cash book.
    Cheques issued but not presented for payments and cheque deposited but not cleared, in both these cases the entry for the same has been entered in the cash book and so it would not be considered for the adjusted cash book. 
    Under casting of debit side of bank column of cash book is an error in the cash book and hence will be considered while preparing adjusted cash book.
  • Question 10
    1 / -0
    A bank reconciliation Statement is prepared with the help of: 
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