From the following particulars, prepare the Bank Reconciliation Statement of businessman as on 31 st March, 2024: Sl. No. Particulars ₹ 1 Bank…

CA Foundation · Accounting · PYQS · June 2024
From the following particulars, prepare the Bank Reconciliation Statement of businessman as on 31 st March, 2024: Sl. No. Particulars ₹ 1 Bank Overdraft as per cash book 24,000 2 Cheque deposited as per bank statement but not recorded in cash book 4,000 3 Cash received from Exe was entered in bank column of cash book. 3,150 4 Debit side of the bank column casted short 1,000 5 A cheque for 9,000 deposited but collection as per bank statement 8,950 6 Bills sent to the bank for collection, collected by the bank but not recorded in cash book 4,200 7 Bank charges recorded twice in cash book 40 8 Noting charges debited in Pass -Book for discounted bill dishonoured 60 9 Cheques deposited on 25 th March, 2024 but collected by bank on 5 th April, 2024 4,800 10 Cheques issued on 26 th March, 2024 but presented for encashment on 6 th April, 2024 3,000

Suggested Answer and Working Notes:

Bank Reconciliation Statement as on 31 st March, 2024 Particulars Details ₹ Amount ₹ Overdraft as per Cash Book 24,000 Add: Cash received from Exe entered in bank column of cash book 3,150 Cheque deposited but collected less as per bank statement 50 Noting charges not recorded in cash book 60 Cheque deposited but collected by bank on 5 th April 4,800 8,060 32,060 Less: Cheque deposited but not recorded in Cash Book 4,000 Debit side of bank column casted short 1,000 Bills for collection credited in the bank not yet entered in the cash book 4,200 Bank Charges recorded twice 40 Cheque issued but not presented 3,000 12,240 Overdraft as per bank Pass book 19,820 Alternatively, the above question can also be solved using adjusted cash book.

Topics: Preparation of Final Accounts of Sole Proprietors, Bank Reconciliation Statement

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