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Bank Reconciliation Statement Test - 26

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Bank Reconciliation Statement Test - 26
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  • Question 1
    1 / -0
    A bank reconciliation statement is prepared by.
    Solution
    A bank reconciliation statement is prepared by the one who holds an account in the bank. A bank will never prepare a bank reconciliation statement but only provides with the summary of transactions undertaken by the account holder during a given period in form of a bank pass book.
  • Question 2
    1 / -0
    Unfavourable balance as per cash book means which of the following?
  • Question 3
    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 4
    1 / -0
    Bank balance as per pass book (CR.) Rs. $$5,090$$. A comparison of pass book and cash book revealed the following:
    - The bank had directly collected dividend of Rs. $$80$$ and interest Rs. $$60$$.
    - As per standing instruction, bank had paid bills of Rs. $$400$$.
    Balance as per cash book will be _____________.
    Solution
    The reconciliation statement is as follows :
      Particulars Amount in Rs.
      Balance as per pass book (Cr.)$$5090$$ 
     LessDividend directly collected by bank $$80$$ 
     LessInterest directly collected by bank $$60$$ 
     AddBills paid as per standing instruction  $$400$$ 
      Balance as per cash book (Dr.)$$5350$$ 
  • Question 5
    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 6
    1 / -0
    When debit balance as per cash book is the starting point, direct deposits by customers are __________ .
    Solution
    In case of direct deposits by customers the entry for the same would have been entered in the pass book due to which the cash book balance would be less than the pass book balance.
    So, when debit balance as per cash book is the starting point, direct deposits by customers are added to reach pass book balance.
  • Question 7
    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 8
    1 / -0
    Which of the following is/are cause of difference of balance between cash book & the pass book?
    Solution
    Errors may be committed not only by the firm but also the bank of the account holder. The difference between cash book and pass book can be due to errors in any of these which may not allow them to tally and these errors or frauds may reflect in bank reconciliation statement.
  • Question 9
    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 10
    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:
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