Commerce (English Medium) इयत्ता ११ - CBSE Question Bank Solutions for Accountancy

Prepare bank reconciliation statement of Shri Bhandari as on March 31, 2017.

1. The payment of a cheque for ₹ 550 was recorded twice in the passbook.
2. Withdrawal column of the passbook undercast by ₹ 200.
3. A cheque of ₹ 200 has been debited in the bank column of the Cash Book but it was not sent to bank at all.
4. A cheque of ₹ 300 debited to bank column of the cash book was not sent to the bank.
5. ₹ 500 in respect of dishonoured cheque were entered in the passbook but not in the cash book. Overdraft as per passbook is ₹ 20,000.

Overdraft shown by the passbook of Mr. Murli is ₹ 20,000. Prepare bank reconciliation statement on dated March 31, 2017.
(i) Bank charges debited as per passbook ₹ 500.
(ii) Cheques recorded in the cash book but not sent to the bank for collection ₹ 2,500.
(iii) Received a payment directly from customer ₹ 4,600.
(iv) Cheque issued but not presented for payment ₹ 6,980.
(v) Interest credited by the bank ₹ 100.
(vi) LIC paid by bank ₹ 2,500.
(vii) Cheques deposited with the bank but not collected ₹ 3,500.

Raghav and Co. have two bank accounts. Account No. I and Account No. II. From the following particulars relating to Account No. I, find out the balance on that account of March 31, 2017 according to the cash book of the firm.

1. Cheques paid into bank prior to March 31, 2017, but not credited for ₹ 10,000.
2. Transfer of funds from account No. II to account no. I recorded by the bank on
3. March 31, 2017 but entered in the cash book after that date for ₹ 8,000.
4. Cheques issued prior to March 31, 2017 but not presented until after that date for ₹ 7,429.
5. Bank charges debited by bank not entered in the cash book for ₹ 200.
6. Interest debited by the bank not entered in the cash book ₹ 580.
7. Overdraft as per Passbook ₹ 18,990.

Prepare a bank reconciliation statement from the following particulars and show the balance as per cash book.
(i) Balance as per passbook on March 31, 2017 overdrawn ₹ 20,000.
(ii) Interest on bank overdraft not entered in the cash book ₹ 2,000.
(iii) ₹ 200 insurance premium paid by bank has not been entered in the cash book.
(iv) Cheques drawn in the last week of March, 2017, but not cleared till date for ₹ 3,000 and ₹ 3,500.
(v) Cheques deposited into bank on February, 2017, but yet to be credited on dated March 31, 2017 ₹ 6,000.
(vi) Wrongly debited by bank ₹ 500.

The passbook of Mr. Randhir showed an overdraft of ₹ 40,950 on March 31, 2017.
Prepare bank reconciliation statement on March 31, 2017.
(i) Out of cheques amounting to ₹ 8,000 drawn by Mr. Randhir on March 27, a cheque for ₹ 3,000 was encashed on April 2017.
(ii) Credited by bank with ₹ 3,800 for interest collected by them, but the amount is not entered in the cash book.
(iii) ₹ 10,900 paid in by Mr. Randhir in cash and by cheques on March, 31 cheques amounting to ₹ 3,800 were collected on April, 07.
(iv) A Cheque of ₹ 780 credited in the passbook on March 28 being dishonoured is debited again in the passbook on April 01, 2017. There was no entry in the cash book about the dishonour of the cheque until April 15.

What is a balance sheet?

Distinguish between capital and revenue expenditure and state whether the following statements are items of capital or revenue expenditure:

1. Expenditure incurred on repairs and whitewashing at the time of purchase of an old building in order to make it usable.
2. Expenditure incurred to provide one more exit in a cinema hall in compliance with a government order.
3. Registration fees paid at the time of purchase of a building.
4. Expenditure incurred in the maintenance of a tea garden which will produce tea after four years.
5. Depreciation charged on a plant.
6. The expenditure incurred in erecting a platform on which a machine will be fixed.
7. Advertising expenditure, the benefits of which will last for four years. 

Discuss the need of preparing a balance sheet

What is meant by Grouping and Marshalling of assets and liabilities? Explain the ways in which a balance sheet may be marshalled.

What are the possible reasons for keeping incomplete records?

List the distinctive advantages of a computer system over a manual system.

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1. Balance as per cash book ₹ 3,200
2. Cheque issued but not presented for payment ₹ 1,800
3. Cheque deposited but not collected upto March 31, 2014 ₹ 2,000
4. Bank charges debited by bank ₹ 150

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1. Balance as per cash book ₹ 3,200.
2. Cheque issued but not presented for payment ₹ 1,800.
3. Cheque deposited but not collected upto March 31, 2014 ₹ 2,000.
4. Bank charges debited by bank ₹ 150.

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1. Balance as per cash book ₹ 3,200.
2. Cheque issued but not presented for payment ₹ 1,800 Cheque deposited but not collected up to March 31, 2014 ₹ 2,000.
3. Bank charges debited by bank ₹ 150.

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1. Balance as per cash book ₹ 3,200
2. Cheque issued but not presented for payment ₹ 1,800
3. Cheque deposited but not collected upto March 31, 2014 ₹ 2,000
4. Bank charges debited by bank ₹ 150

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1. Balance as per cash book ₹ 3,200
2. Cheque issued but not presented for payment ₹ 1,800
3. Cheque deposited but not collected upto March 31, 2014 ₹ 2,000
4. Bank charges debited by bank ₹ 150

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1. Balance as per cash book ₹ 3,200 .
2. Cheque issued but not presented for payment ₹ 1,800.
3. Cheque deposited but not collected upto March 31, 2014 ₹ 2,000.
4. Bank charges debited by bank ₹ 150.

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1. Balance as per cash book ₹ 3,200.
2. Cheque issued but not presented for payment ₹ 1,800.
3. Cheque deposited but not collected upto March 31, 2014 ₹ 2,000.
4. Bank charges debited by bank ₹ 150.

Rectify the following errors:

1. Credit sales to Mohan Rs 7,000 were not recorded.
2. Credit purchases from Rohan Rs 9,000 were not recorded.
3. Goods returned to Rakesh Rs 4,000 were not recorded.
4. Goods returned from Mahesh Rs 1,000 were not recorded.

From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.

1.  Balance as per cash book ₹ 3,200.
2. Cheque issued but not presented for payment ₹ 1,800.
3. Cheque deposited but not collected upto March 31, 2014 ₹ 2,000.
4. Bank charges debited by bank ₹ 150.