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Question
From the following information, prepare bank reconciliation statement to find out the bank statement balance as on 31st December, 2017.
| Particulars | ₹ |
| 1. Balance as per cash book | 15,000 |
| 2. Cheques deposited but not yet credited | 1,000 |
| 3. Cheques issued and entered in the cash book before 31st December 2017 but not presented for payment until that date | 1,500 |
| 4. Dividend directly received by bank | 200 |
| 5. Direct payment made by bank for rent | 1,000 |
| 6. Locker rent charged by the bank not recorded in cash book | 1,200 |
| 7. Wrong debit given by the bank on 30th December 2017 | 500 |
| 8. A payment made through net banking has been entered twice in the cash book | 300 |
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Solution
Bank reconciliation statement
as on 31st December, 2017
| Particulars | Amount ₹ | Amount ₹ |
| Balance as per cash book | 15,000 | |
| Add: | ||
| (3) Cheques issued but not yet presented for payment | 1,500 | 2,000 |
| (4) Dividend directly received but not recorded in cash book | 200 | |
| (8) A payment made through net banking has been twice entered in cash book | 300 | |
| 17,000 | ||
| Less: | ||
| (2) Cheques deposited but not yet credited | 1,000 | 3,700 |
| (5) Direct payment made by bamk for rent but not debited in cash book | 1,000 | |
| (6) Locker rent charged but not recorded in cash book | 1,200 | |
| (7) Wrong debit given by bank but not recorded in cash book | 500 | |
| Balance as per bank statement | 13,300 |
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RELATED QUESTIONS
Adjusting the cash book before preparing the bank reconciliation statement is compulsory.
From the following particulars prepare a bank reconciliation statement of Jayakumar as on 31st December, 2016.
- Balance as per cash book ₹ 7,130
- Cheque deposited but not cleared ₹ 1,000
- A customer has deposited ₹ 800 into the bank directly.
From the following particulars of Raheem traders, prepare a bank reconciliation statement as on 31st March, 2018.
- Overdraft as per cash book ₹ 2,500. On the same day the balance as per bank statement is ₹ 1,99,000.
- Interest on debentures of ₹ 700 was received by the bank directly.
- Amount received by bank through RTGS amounting to ₹ 2,00,000, omitted in the cash book.
- Two cheques issued for ₹ 1,800 and ₹ 2,000 on 29th March 2018. Only the second cheque is presented for payment.
- Insurance premium on car for ₹ 1,000 paid by the bank as per standing instruction not recorded in the cash book.
Prepare bank reconciliation statement from the following data and find out the balance as per cash book as on 31st March, 2018.
| Particulars | ₹ |
| (i) Bank balance as per bank statement | 15,000 |
| (ii) Cheques issued but not yet presented for payment | 2,500 |
| (iii) Bank charges not recorded in the cash book | 250 |
| (iv) Interest charged by bank not recorded in the cash book | 500 |
| (v) Bank paid insurance premium as per standing instruction but not recorded in the cash book | 300 |
| (vi) Cheques deposited but not yet credited | 900 |
From the following particulars of Raja traders, prepare a bank reconciliation statement as on 31st January, 2018.
- Balance as per bank statement ₹ 5,000
- Cheques amounting to ₹ 800 had been recorded in the cash book as having been deposited into the bank on 25th January 2018, but were entered in the bank statement on 2nd February 2018.
- Amount received by bank through NEFT amounting to ₹ 3,000, omitted in the cash book.
- Two cheques issued for ₹ 3,000 and ₹ 2,000 on 29th March 2018. Only the first cheque is presented for payment.
- Insurance premium on motor vehicles for ₹ 1,000 paid by the bank as per standing instruction not recorded in the cash book.
- Credit side of cash book was undercast by ₹ 700
- Subsidy received directly by the bank from the state government amounting to ₹ 10,000, not entered in cash book.
Explain the process of preparing bank reconciliation statement with amended cash balance
On December 31, 2017, the cash book of Mittal Bros showed an overdraft of ₹ 6,920. From the following particulars prepare a Bank Reconciliation Statement and ascertain the balance as per passbook.
- Debited by bank for ₹ 200 on account of interest on overdraft and ₹ 50 on account of charges for collecting bills.
- Cheques drawn but not encashed before December, 31 2017 for ₹ 4,000.
- The bank has collected interest and has credited ₹ 600 in passbook.
- A bill receivable for ₹ 700 previously discounted with the bank had been dishonoured and debited in the passbook.
- Cheques paid into bank but not collected and credited before December 31, 2017 amounted ₹ 6,000.
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.
From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.
- Balance as per cash book ₹ 3,200.
- Cheque issued but not presented for payment ₹ 1,800.
- Cheque deposited but not collected upto March 31, 2014 ₹ 2,000.
- Bank charges debited by bank ₹ 150.
From the following particulars, prepare a bank reconciliation statement as at March 31, 2017.
- Balance as per cash book ₹ 3,200.
- Cheque issued but not presented for payment ₹ 1,800 Cheque deposited but not collected up to March 31, 2014 ₹ 2,000.
- Bank charges debited by bank ₹ 150.
