HSC Arts (English Medium) ११ वीं कक्षा - Maharashtra State Board Question Bank Solutions

Enter the following transactions in the books of Vijay in Purchase Book, Sales Book, Purchase Returns Book and Sales Returns Book and Journal Proper for the month of August 2018.

2018 August

01 Purchased goods from Vikas Stores ₹ 18,000 at 5% Trade Discount

02 Sold goods of ₹ 9,000 to Prabhakar Traders

05 Veena sold goods of ₹ 16,000 to us at 5% Trade Discount as per our order dated 28th July, 2018.

08 Sent a Debit Note to Vikas Stores ₹ 1,600 (Gross) for goods returned.

10 Sold goods of ₹ 12,000 on credit to Shamal & Sons at 6% Trade Discount.

18 Received Credit Note from Veena ₹ 900 (Gross) for goods returned.

22 Sent Credit Note to Prabhakar Traders for ₹ 1,500 for goods returned. Received Dedit note from Shamal & Sons for ₹ 1,200 (Net) for goods returned.

23 Purchased goods of ₹ 16,600 from Priya Stores and paid for Carriage ₹ 150.

25 Purchased goods from Sadhana Stores ₹ 12,000 and sold the same to Aradhana Stores at a profit of 20% on cost.

28 Aradhana Stores returned goods of ₹ 2,400 as they were defective and the same were returned to Sadhana Stores.

31 Purchased Furniture for office use ₹ 30,000 from Art Furniture Works on credit.

Mr. Akash gives you the following information and asks you to prepare Purchase Book, Sales Book, Purchase Returns Book and Sales Return Book for the month of January 2018.

2018 January

01 Purchased goods on credit from Dhanal Traders for ₹ 15,000 and sold the same to Kunal Traders at a profit of 25% on cost.

05 Placed an order with Sunetra for goods of ₹ 10,000 less 5% Trade discount.

08 Purchased goods of ₹ 20,000 at 10% Trade Discount from Saurabha Traders.

13 Sold goods to Vinayak Stores ₹ 8,000 at 5% Trade Discount.

15 Vinayak Stores returned goods to us ₹ 200.

18 Sunetra executed our order placed on 5th Jan. 2018.

20 Sold goods to Vishnu Traders ₹ 21,000 less 5% Trade Discount.

22 Returned goods to Sunetra ₹ 1,000 (Gross).

28 Kunal Traders returned goods to us ₹ 500

30 Returned goods to Sourabh Traders ₹ 1,500.

Answer in one sentence:

Who prepares a bank Pass Book?

Answer in one sentence:

Who prepares the Bank Reconciliation Statement?

Answer in one sentence:

On which side is interest on bank deposit recorded in Pass Book?

Answer in one sentence:

Why is the Bank Reconciliation Statement prepared?

Give one word/term/phrase which can substitute the following statement:

The account on which overdraft facility is allowed by bank.

Give one word/term/phrase which can substitute the following statement:

Statement showing the causes of disagreement between balance of Cash Book and Pass Book.

Give one word/term/phrase which can substitute the following statement:

Excess of bank deposits over withdrawals by businessman in bank current account.

Do you agree or disagree with the following statement:

Bank statement enables account holder to prepare Bank Reconciliation Statement.

Do you agree or disagree with the following statement:

Bank Reconciliation Statement is prepared only during the year end.

Do you agree or disagree with the following statement:

Bank Reconciliation Statement is similar to bank statement.

Select the most appropriate alternative from those given and rewrite the following statement:

Bank Reconciliation Statement is prepared by _________.

Select the most appropriate alternative from those given and rewrite the following statement:

Bank gives overdraft facility to __________ account holder.

Complete the following statement:

While preparing Bank Reconciliation Statement only __________ column of Cash Book is considered.

Complete the following statement:

A statement showing the reasons for difference in Cash Book balance and Pass Book balance is known as ___________.

State whether the following statement is True or False with reasons:

Businessman can prepare Bank Reconciliation statement only with Cash Book Balance.

 Correct and rewrite the following statement:

Bank Reconciliation Statement is prepared by Bank.

On 31st August 2018 bank passbook of Mr. Ravi showed a credit balance of ₹ 33,600, but Cash Book showed a different balance. On comparing the two books following differences were noticed:

1. Cheques paid into the bank but not credited before 31st Aug 2018 amounted to ₹ 24,500.
2. Direct deposit by the customer through NEFT ₹ 33,000 recorded in the passbook only.
3. Cheques issued on 28th Aug 2018 were presented for payment on 5th Sep. 2018 amounted to ₹ 38,800.
4. A bill receivable for ₹ 15,000 discounted with the bank was dishonored on 30th Aug 2018. Intimation of the same was received only on 3rd Sep 2018.
5. Passbook credit side was overcast ₹ 2,000.
6. Bank debited ₹ 400 for bank charges in the passbook, which was not recorded in Cash Book.

Prepare Bank Reconciliation Statement as of 31st August 2018.

From the following details prepare Bank Reconciliation Statement as of 31st Dec. 2018.

1. Bank overdraft as per Cash Book on 31st Dec. 2018 was ₹ 48,450.

2. Bank charges for SMS alerts ₹ 370 were debited in passbook but not recorded in Cash Book.

3. Interest in overdraft ₹ 2,870 did not appear in Cash Book.

4. A bill for ₹ 12,000 discounted with bank appears in Cash Book at the full amount but the bank has deducted ₹ 200 discounting charges.

5. Cheques issued but not presented for payment before 31st Dec. 2018 amounted to ₹ 32,300.

6. Cheques amounting to ₹ 24,000 were deposited into the bank but only a cheque of ₹ 8,000 was collected by the bank before 31st Dec. 2018.

7. Paid stationary bill ₹ 11,300 by debit card. It was not recorded in Cash Book.