Question

3. Ans: Following informations were supplied to you by a company: a. Cheques deposited in total of Rs. 10,000 before 30th Chaitra, only to the extent of Rs. 4,000 appeared in the bank statement of the month.

b. Interest received for Rs. 500 credited in pass book only.
c. Cheque of Rs. 2,500 only has been encashed out of the total cheque issued for Rs. 5,000.
d. Cash book showed the balance of Rs. 2,000 on that date.
e. Credit side of the bank column of a cash book has been undercast by Rs. 100.

Required: Bank reconciliation statement as on 30th Chaitra, 2076.

Ans: Overdraft as per pass book Rs. 1,100​

Answer 1

To prepare the bank reconciliation statement, we need to consider the differences in cheques deposited and issued, interest received, balance in the cash book, and undercast of the bank column. After calculating these differences, we find that the overdraft as per the pass book is Rs. 1,100.

Step-by-step explanation:

Bank reconciliation is a process used by companies to compare their cash book balance and the bank statement balance. This is done to identify any discrepancies and ensure that both balances are adjusted correctly. In this case, we need to prepare a bank reconciliation statement based on the given information.

1. Total cheques deposited in the cash book = Rs. 10,000
2. Amount appeared in the bank statement = Rs. 4,000
3. Difference = Rs. 6,000 (10,000 - 4,000)
4. Interest received credited in the cash book = Rs. 500
5. Cheque issued = Rs. 5,000
6. Cheque encashed = Rs. 2,500
7. Difference = Rs. 2,500 (5,000 - 2,500)
8. Balance in the cash book = Rs. 2,000
9. Undercast of credit side of the bank column by Rs. 100
10. Difference = Rs. 100 (100 - 0)

To prepare the bank reconciliation statement:

1. Add the difference in cheques deposited and in cheques issued to the balance in the cash book: 6,000 + 2,500 + 2,000 + 100 = Rs. 10,600
2. Add the interest received credited in the cash book: 10,600 + 500 = Rs. 11,100
3. Calculate the overdraft as per the pass book: Rs. 11,100 - 10,000 = Rs. 1,100

Therefore, the overdraft as per the pass book is Rs. 1,100.