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Bank Reconciliation Statement Test 18

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Bank Reconciliation Statement Test 18
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  • Question 1
    1 / -0
    A Bank Reconciliation Statement is prepared to know the causes for the difference between:
    Solution
    Bank Reconciliation Statement (BRS) is prepared on a periodical basis for checking that bank related transactions are recorded properly in the cash book's bank column and also by the bank in their books. BRS helps to detect errors in recording transactions and determining the exact bank balance as on a specified date. Therefore, B is the correct option.
  • Question 2
    1 / -0
    Overdraft as per cash book of B & Co. was Rs. $$30,000$$.
    - The credit side of bank column of cash book was under cast by Rs. $$100$$
    - Interest on bank loan Rs. $$2,000$$ and bank charges of Rs. $$575$$ were not recorded in cash book.
    Overdraft as per pass book should be _______ .
    Solution
    The reconciliation is as follows :
      ParticularsAmount in Rs. 
     Overdraft as per cash book  $$30000$$ 
     AddCredit side of bank column being under cast $$100$$ 
     AddInterest on bank loan not recorded in cash book $$2000$$ 
     AddBank charges not recorded in cash book 
    		$$575$$ 
      Overdraft as per pass book $$32675$$ 
  • Question 3
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, cheques deposited but omitted to be recorded are:
  • Question 4
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, Direct collection by bank are:
  • Question 5
    1 / -0
    While preparing a Bank Reconciliation Statement taking the Dr. balance as per Cash Book as the starting point, interest allowed by the bank are:
  • Question 6
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, cheque recorded omitted to be banked are:  
  • Question 7
    1 / -0
    A Bank reconciliation statement reconciles the -
    Solution
    A bank reconciliation statement is a summary of banking and business activity that reconciles an entity's bank account with its financial records. The statement outlines the deposits, withdrawals and other activity affecting a bank account for a specific period.
  • Question 8
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, an under cast of Bank Column on credit side of Cash Book is:
  • Question 9
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, dishonour of Discounted B/R are:
  • Question 10
    1 / -0
    While preparing a Bank Reconciliation Statement taking the balance as per Cash Book as the starting point, Bank charges and interest charges are:
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