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Bank Reconciliation Statement Test 24

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Bank Reconciliation Statement Test 24
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  • Question 1
    1 / -0
    Bank balance as per cash book (Dr.) of NZ & Co. was Rs.$$1,050$$
     -Bank charges not recorded in cash book was Rs.$$180$$.
     -Rs.$$750$$ was directly paid by customer into bank was not recorded in cash book.
     -Debit side of cash book was undercast by Rs.$$100$$
     -Cheque deposited for Rs.$$700$$ was not credited in pass book.
     -Out of cheques of Rs.$$900$$ issued but not presented for payments.
    If BRS is prepared after adjusting cash book, balance as per Adjusted Cash book should be Rs.________ and balance as pass book should be Rs.__________
    Solution
    The adjusted cash book balance is as follows :
      ParticularsAmount in Rs. 
      Bank balance as per cash book (Dr.)
    		$$1050$$ 
     LessBank charges not recorded in cash book $$180$$ 
     AddDirect payment by customer into bank $$750$$ 
     AddUndercasting of Debit side of cash book $$100$$ 
     Adjusted  Bank balance as per cash book (Dr.)$$1720$$ 
    The reconciliation is as follows
      ParticularsAmount in Rs. 
     Adjusted  Bank balance as per cash book (Dr.)
    		$$1720$$ 
    Less Cheque deposited but not credited in pass book  $$700$$
    AddCheque issued but not presented for payment  $$900$$
      Bank balance as per pass book $$1920$$

  • Question 2
    1 / -0
    Which of the following item must be recorded in the adjusted Cash Book in order to bring it in line with the entries in the Bank Statement?

    Solution
    Any item which has already been recorded in the cash book can be adjusted to bring it in line with the balance as per pass book. From the given items, an uncredited deposit, when recorded earlier, would have increased the balance as per cash book. So now, it can be decreased by adjusting the cash book and bringing it in line with the balance as per pass book.
  • 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 $$1,08,150$$ by $$31$$st March          .
     -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. 
     Credit balance as per pass book $$216000$$ 
     AddCheque deposited but not cleared $$108150$$ 
     LessCheque issued but not presented for payment $$26000$$ 
      Debit balance as per cash book$$298150$$ 
  • Question 4
    1 / -0
    A company had entered in hire purchase agreement and had to pay Rs 1000 per month. Three payment were accounted for in the pass book but no entry was found in cash book. ldentify the correct adjustment in cash book.
    Solution
    In the present case the payments made as per hire purchase agreement were accounted for  in the pass book but not in the cash book due to which the pass book balance would be lower.
    So, the proper adjustment would be to subtract  $$Rs. 3000$$ from the cash book balance.
  • Question 5
    1 / -0
    On $$30$$th September overdraft as per cash book of Z Ltd. was Rs.$$81,000$$. The bank had directly collected dividend of other companies Rs.$$4,375$$ and interest Rs.$$3,000$$. As per standing instruction bank had paid bills of Rs.$$6,135$$. Cheque deposited for Rs.$$22,324$$ was not credited in pass book. With the help of above information balance as per pass book should be ____________.
    Solution
    The reconciliation is as follows :
      ParticularsAmount in Rs. 
      Overdraft as per cash book $$81000$$ 
     Less Dividend directly collected by bank $$4375$$ 
     LessInterest directly collected by bank$$3000$$ 
     AddBills directly paid by bank as per standing instruction $$6135$$ 
     AddCheque deposited but not credited in cash book $$22324$$ 
      Overdraft as per pass book $$102084$$
  • Question 6
    1 / -0
    On $$31$$st December overdraft as per cash book - Rs.$$16,200$$. A comparison of pass book and cash book revelead the following:
     -Cheques deposited for Rs.$$700$$ was not credited in pass book.
     -Out of cheques of Rs.$$900$$ issued, only cheques amounting to Rs.$$825$$ were presented for payments.
    Overdraft as per pass book will be _____________.
    Solution
    The reconciliation is as follows :
     Particulars Amount in Rs 
     Overdraft as per cash book as on 31 st December $$16200$$ 
     AddCheque deposited but not credited $$700$$ 
     LessCheque issued but not presented for payment $$75$$ 
     Overdraft as per pass book as on 31 st December $$16825$$ 
  • 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 had 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 :
      ParticularsAmount in Rs. 
      Overdraft as per pass book $$32400$$ 
     AddDividend directly collected by bank $$1750$$ 
     Add Interest directly collected by bank $$1200$$ 
     LessBills paid by bank as per standing instruction $$2454$$ 
     LessCheque deposited but not credited in pass book $$8929.60$$ 
      Overdraft as per cash book$$23966.4$$ 
  • Question 8
    1 / -0
    On $$31$$st December overdraft as per pass book-Rs.$$19,440$$. A comparison of pass book and cash book revealed the following:
     -Cheque deposited for Rs.$$840$$ was not credited in pass book.
     -Out of cheques of Rs.$$1,080$$ issued, only cheques amounting to Rs.$$990$$ were presented for payments.
    Overdraft as per cash book will be __________.
    Solution
    The reconciliation is as follows :
      ParticularsAmount in Rs. 
      Overdraft as per pass book$$19440$$ 
     Less Cheque deposited but not credited in pass book$$840$$ 
     AddCheque issued but not presented for payment $$90$$ 
      Overdraft as per cash book$$ 18690$$
  • Question 9
    1 / -0
    On $$31$$st March $$2012$$, bank balance as per pass book (Cr.) Rs. $$20,000$$. A comparison of pass book and cash book revealed the following:
    - Cheques deposited for Rs. $$20,000$$ out of these cheques bank had credited cheques of Rs. $$5,000$$.
    - Bank charges Rs. $$100$$ was not entered in cash books.
    Balance as per cash book will be _________ .
    Solution
    The reconciliation is as follows
      ParticularsAmount in Rs. 
     Balance as per pass book (Cr.) $$20000$$ 
     AddCheques deposited but not credited by bank $$15000$$ 
     Add Bank charges not entered in cash book $$100$$ 
      Balance as per cash book (Dr.)$$35100$$ 
  • Question 10
    1 / -0
    On $$31$$st December overdraft as per cash book- Rs. $$16,200$$. A comparison of pass book and cash book revealed the following:
    - Cheque deposited for Rs. $$700$$ was not credited in pass book.
    - Out of cheques of Rs. $$900$$ issued only cheques amounting to Rs. $$825$$ were presented for payments.
    Overdraft as per pass book will be _______ .
    Solution
    The reconciliation is as follows :
      ParticularsAmount in Rs. 
      Overdraft as per cash book $$16200$$ 
     AddCheque deposited but not credited in pass book $$700$$ 
     LessCheques issued but not presented for payment $$75$$ 
      Overdraft as per pass book $$16825$$ 
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