HSC Commerce (English Medium) 11th Standard - Maharashtra State Board Question Bank Solutions

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

Journal is a book of secondary entry.

Complete the following sentence:

In Journal Proper, only ______ discount is recorded.

Complete the following sentence:

Assets sold on credit are entered in ______

Following is the extract of the Cash Book (Bank Column only) and passbook. Prepare Bank Reconciliation Statement as of 31st Oct. 2018.

In the books of ____________

In the books of Bank

From the following extract of Cash Book and Pass Book prepare Bank Reconciliation Statement as of 31st March 2019.

In the books of ____________

In the books of Bank

On 31st January 2018 Bank balance as per Cash Book was ₹ 40,000 but Pass Book was showing some other balances following were the causes of the difference.

1. Cheques were issued for ₹ 1,00,000 in January 2018 but cheques of ₹ 50,000 were only presented to the Bank for payment before January 31st, 2018

2. Cheques were sent to the Bank for collection of ₹ 2,00,000 out of which cheques of ₹ 80,000 were only credited by the Bank in January 2018.

3. Following entries were shown in the passbook in January 2018, but no corresponding entries were made in the Cash Book.

(i) Payment of ₹ 6,400 by Bank for Electricity Bill by ECS.

(ii) Interest credited by Bank ₹ 12,000

(iii) Bank debited commission ₹ 1,000 and Bank charges for ₹ 600.

(iv) Direct deposit made by customer ₹ 1,000 by NEFT to our account.

Prepare Bank Reconciliation Statement as of 31st January 2018.

In January 2018, the Pass Book of Mr. Girish Kumbhar showed a bank balance of ₹ 14,000. A comparison of the Cash Book with the Pass Book revealed the following.

1. Cheque deposited but not credited by Bank ₹ 10,000

2. Dividend on shares collected by Bank but not recorded in the Cash Book ₹ 1,000

3. Bank paid Insurance premium as per standing instruction by ECS ₹ 500, no corresponding entry was passed in the Cash Book.

4. Bank debited Commission ₹ 75.

5. A debit of ₹ 900 in respect of cheque dishonored appears in Pass Book only.

6. Cheque of ₹ 1,500 deposited into Bank wrongly recorded twice in the Cash Book.

7. Total cheques of ₹ 20,000 were issued during the month of January 2018, but cheques of ₹ 8,000 only were presented for payment in January 2018.

Prepare Bank Reconciliation Statement as of 31st January 2018.

Form the following details provided by Prasharit enterprises, prepare a Bank Reconciliation Statement as of 31st March 2018.

1. Overdraft as per Cash Book ₹ 28,000

2. Cheque issued of ₹ 2,000 and presented to Bank returned dishonored but the effect of dishonored is not recorded in the Cash Book.

3. Bank debited Bank charges ₹ 150.

4. Bank transferred ₹ 2,500 to the savings account of the proprietor but not recorded in the Cash Book.

5. Cheque issued to the supplier but not presented to Bank before 21st March 2018, ₹ 1,600

6. Cheques of ₹ 3,000 and ₹ 2,000 were deposited into Bank but cheques of ₹ 3,000 were only credited by Bank before 31st March 2018.

7. Out customer directly deposited ₹ 1,500 in our Bank account but wrongly recorded it in the cash column of the Cash Book.

8. Bank debited interest on overdraft ₹ 750.

Prepare Bank Reconciliation Statement as of 31st Dec. 2018

1. Debit balance as per pass book ₹ 16,000.
2. Customer directly deposited in our Bank account by NEFT ₹ 8,000.
3. Cheques deposited into Bank but not credited by Bank ₹ 10,500.
4. Pass Book shows a debit entry for Bank commission ₹ 300, not recorded in Cash Book.
5. A Bill of Exchange of ₹ 3,500 was discounted with the Bank in December 2018, returned dishonored in January 2019.
6. As per standing instructions Bank paid the Telephone bill of ₹ 650, not recorded in the Cash Book.
7. Cheque of ₹ 975 deposited into the Bank but wrongly recorded on ₹ 795 in Cash Book.

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

Debiting an entry in Cash Book ___________ cash balance.

Correct and rewrite the following statement:

When extracts are given for common period only common items are to be considered.

From the following particulars, prepare the Bank Reconciliation Statement as of 30th June 2019.

1. Credit balance as per Pass Book ₹ 20,000.
2. A cheque for ₹ 3,500 was issued and paid by the bank, recorded in the Pass Book as ₹ 5,300.
3. The cheque deposited ₹ 9,700 collected by the bank was not recorded in the Cash Book.
4. The payment side of the Cash Book was undercast by ₹ 100.
5. The electricity bill paid by the bank ₹ 6,200, was recorded twice in the Pass Book.

From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.

1. Credit balance as per Pass Book ₹ 20,000.
2. A cheque for ₹ 3,500 was issued and paid by the bank, recorded in the Pass Book as ₹ 5,300.
3. The cheque deposited ₹ 9,700 collected by the bank was not recorded in the Cash Book.
4. The payment side of the Cash Book was undercast by ₹ 100.
5. The electricity bill paid by the bank ₹ 6,200, was recorded twice in the Pass Book.

From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.

1. Credit balance as per Pass Book ₹ 20,000.
2. A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
3. Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
4. Payment side of Cash Book was undercast by ₹ 100.
5. Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.

From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.

1. Credit balance as per Pass Book ₹ 20,000.
2. A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
3. Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
4. Payment side of Cash Book was undercast by ₹ 100.
5. Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.

From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019. 

1. Credit balance as per Pass Book ₹20,000.
2. A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
3. Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.  
4. Payment side of Cash Book was undercast by ₹100.
5. Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.  

From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.

Credit balance as per Pass Book ₹ 20,000.

1. A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
2. Cheque deposited ₹ 9,700 collected by the bank was not recorded in Cash Book.
3. Payment side of Cash Book was undercast by ₹ 100.
4. Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.

Give the word term or phrase which can substitute the following statement:

Assets which remain in the business for only for short time and can be converted into cash very easily.

Select the most appropriate alternative from the given below and rewrite the statement.

The immediate recognition of loss is supported by principle of __________.

Select the most appropriate alternative from the given below and rewrite the statement.

Brief explanation of an entry is called as _________.