Tamil Nadu Board of Secondary EducationHSC Commerce Class 11th
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Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Accountancy Answers Guide chapter 8 - Bank Reconciliation Statement [Latest edition]

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Class 11th Accountancy Answers Guide - Shaalaa.com
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Chapter 8: Bank Reconciliation Statement

Multiple choice questionsVery short answer questionsShort answer questionsExercises
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Multiple choice questions [Pages 170 - 171]

Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Accountancy Answers Guide Chapter 8 Bank Reconciliation StatementMultiple choice questions [Pages 170 - 171]

Choose the correct answer

Multiple choice questions | Q I 1. | Page 170

A bank reconciliation statement is prepared by ________.

  • Bank

  • Business

  • Debtor to the business

  • Creditor to the business

Multiple choice questions | Q I 2. | Page 170

A bank reconciliation statement is prepared with the help of ______.

  • Bank statement

  • Cash book

  • Bank statement and bank column of the cash book

  • Petty cash book

Multiple choice questions | Q I 3. | Page 170

Debit balance in the bank column of the cash book means ______.

  • Credit balance as per bank statement

  • Debit balance as per bank statement

  • Overdraft as per cash book

  • None of the above

Multiple choice questions | Q I 4. | Page 170

A bank statement is a copy of ______.

  • Cash column of the cash book

  • Bank column of the cash book

  • A customer’s account in the bank’s book

  • Cheques issued by the business

Multiple choice questions | Q I 5. | Page 170

A bank reconciliation statement is prepared to know the causes for the difference between:

  • The balance as per the cash column of the cash book and bank column of the cash book

  • The balance as per the cash column of the cash book and bank statement

  • The balance as per the bank column of the cash book and the bank statement

  • The balance as per petty cash book and the cash book

Multiple choice questions | Q I 6. | Page 171

When money is withdrawn from bank, the bank ______.

  • Credits customer’s account

  • Debits customer’s account

  • Debits and credits customer’s account

  • None of these

Multiple choice questions | Q I 7. | Page 171

Which of the following is not the salient feature of bank reconciliation statement?

  • Any undue delay in the clearance of cheques will be shown up by the reconciliation

  • Reconciliation statement will discourage the accountant of the bank from embezzlement

  • It helps in finding the actual position of the bank balance

  • Reconciliation statement is prepared only at the end of the accounting period

Multiple choice questions | Q I 8. | Page 171

Balance as per cash book is ₹ 2, 000. Bank charge of ₹ 50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now?

  • ₹ 1,950 credit balance

  • ₹ 1,950 debit balance

  • ₹ 2,050 debit balance

  • ₹ 2,050 credit balance

Multiple choice questions | Q I 9. | Page 171

Balance as per bank statement is ₹ 1, 000. Cheque deposited, but not yet credited by the bank is ₹ 2, 000. What is the balance as per bank column of the cash book?

  • ₹ 3,000 overdraft

  • ₹ 3,000 favourable

  • ₹ 1,000 overdraft

  • ₹ 1,000 favourable

Multiple choice questions | Q I 10. | Page 171

Which one of the following is not a timing difference?

  • Cheque deposited but not yet credited

  • Cheque issued but not yet presented for payment

  • Amount directly paid into the bank

  • Wrong debit in the cash book

Very short answer questions [Pages 171 - 172]

Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Accountancy Answers Guide Chapter 8 Bank Reconciliation StatementVery short answer questions [Pages 171 - 172]

Very short answer questions | Q II 1. | Page 171

What is meant by bank overdraft?

Very short answer questions | Q II 2. | Page 171

What is bank reconciliation statement?

Very short answer questions | Q II 3. | Page 171

State any two causes of disagreement between the balance as per bank column of cash book and bank statement.

Very short answer questions | Q II 4. | Page 171

Give any two expenses which may be paid by the banker as per standing instruction.

Very short answer questions | Q II 5. (a) | Page 171

Substitute the following statement with one word/phrase.

A copy of customer’s account issued by the bank

Very short answer questions | Q II 5. (b) | Page 171

Substitute the following statement with one word/phrase.

Debit balance as per bank statement

Very short answer questions | Q II 5. (c) | Page 171

Substitute the following statement with one word/phrase.

Statement showing the causes of disagreement between the balance as per cash book and balance as per bank statement

Do you agree with the following statements? Write “yes” if you agree, and write “no” if you disagree.

Very short answer questions | Q II 6. (a) | Page 172

The bank reconciliation statement is prepared by the banker.

  • Yes

  • No

Very short answer questions | Q II 6. (b) | Page 172

Adjusting the cash book before preparing the bank reconciliation statement is compulsory.

  • Yes

  • No

Very short answer questions | Q II 6. (c) | Page 172

Credit balance as per bank statement is an overdraft.

  • Yes

  • No

Very short answer questions | Q II 6. (d) | Page 172

Bank charges debited by the bank increases the balance as per bank statement.

  • Yes

  • No

Very short answer questions | Q II 6. (e) | Page 172

Bank reconciliation statement is prepared to identify the causes of differences between balance as per bank column of the cash book and balance as per cash column of the cash book.

  • Yes

  • No

Short answer questions [Page 172]

Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Accountancy Answers Guide Chapter 8 Bank Reconciliation StatementShort answer questions [Page 172]

Short answer questions | Q III 1. | Page 172

Give any three reasons for preparing bank reconciliation statement.

Short answer questions | Q III 2. | Page 172

What is meant by the term “cheque not yet presented?”

Short answer questions | Q III 3. | Page 172

Explain why does money deposited into bank appear on the debit side of the cash book, but on the credit side of the bank statement?

Short answer questions | Q III 4. | Page 172

What will be the effect of interest charged by the bank, if the balance is an overdraft?

Short answer questions | Q III 5. | Page 172

State the timing differences in BRS with examples.

Exercises [Pages 172 - 175]

Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Accountancy Answers Guide Chapter 8 Bank Reconciliation StatementExercises [Pages 172 - 175]

Exercises | Q IV 1. | Page 172

From the following particulars prepare a bank reconciliation statement of Jayakumar as on 31st December, 2016.

  1. Balance as per cash book ₹ 7,130
  2. Cheque deposited but not cleared ₹ 1,000
  3. A customer has deposited ₹ 800 into the bank directly.
Exercises | Q IV 2. | Page 172

From the following particulars of Kamakshi traders, prepare a bank reconciliation statement as on 31st March, 2018.

  1. Debit balance as per cash book ₹ 10,500
  2. Cheque deposited into bank amounting to ₹ 5,500 credited by bank, but entered twice in the cash book
  3. Cheques issued and presented for payment amounting to ₹ 7,000 omitted in the cash book
  4. Cheque book charges debited by the bank ₹ 200 not recorded in the cash book.
  5. Cash of ₹ 1,000 deposited by a customer of the business in cash deposit machine not recorded in the cash book.
Exercises | Q IV 3. | Page 172

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
Exercises | Q IV 4. | Page 173

From the following particulars of Raheem traders, prepare a bank reconciliation statement as on 31st March, 2018.

  1. Overdraft as per cash book ₹ 2,500. On the same day the balance as per bank statement is ₹ 1,99,000.
  2. Interest on debentures of ₹ 700 was received by the bank directly.
  3. Amount received by bank through RTGS amounting to ₹ 2,00,000, omitted in the cash book.
  4. Two cheques issued for ₹ 1,800 and ₹ 2,000 on 29th March 2018. Only the second cheque is presented for payment.
  5. Insurance premium on car for ₹ 1,000 paid by the bank as per standing instruction not recorded in the cash book.
Exercises | Q IV 5. | Page 173

From the following information, prepare bank reconciliation statement as on 31st December, 2017 to find out the balance as per bank statement.

Particulars
(i) Bank overdraft as per cash book 20,000
(ii) Cheques deposited but not yet credited 4,000
(iii) Cheque issued but not yet presented for payment 1,000
(iv) Rent collected by the bank as per standing instruction 500
(v) Interest on overdraft debited by bank 2,000
(vi) Amount wrongly debited by bank 300
(vii) Cheque issued on 30th December 2017 dishonoured by the bank 5,000
(viii) A customer’s cheque deposited in the bank dishonoured by bank not recorded in the cash book 2,000
Exercises | Q IV 6. | Page 174

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
Exercises | Q IV 7. | Page 174

From the following particulars of Raja traders, prepare a bank reconciliation statement as on 31st January, 2018.

  1. Balance as per bank statement ₹ 5,000
  2. 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.
  3. Amount received by bank through NEFT amounting to ₹ 3,000, omitted in the cash book.
  4. Two cheques issued for ₹ 3,000 and ₹ 2,000 on 29th March 2018. Only the first cheque is presented for payment.
  5. Insurance premium on motor vehicles for ₹ 1,000 paid by the bank as per standing instruction not recorded in the cash book.
  6. Credit side of cash book was undercast by ₹ 700
  7. Subsidy received directly by the bank from the state government amounting to ₹ 10,000, not entered in cash book.
Exercises | Q IV 8. | Page 174

From the following particulars of Simon traders, prepare a bank reconciliation statement as on 31st March, 2018.

  1. Debit balance as per bank statement ₹ 2,500
  2. Cheques deposited amounting to ₹ 10,000, not yet credited by bank.
  3. Payment through net banking for ₹ 2,000, omitted in the cash book
Exercises | Q IV 9. | Page 175

From the following particulars, ascertain the cash book balance as on 31st December, 2016.

  1. Overdraft balance as per bank statement ₹ 1,26,640
  2. Interest on overdraft entered in the bank statement, but not yet recorded in cash book ₹ 3,200
  3. Bank charges entered in bank statement, but not found in cash book ₹ 600
  4. Cheques issued, but not yet presented for payment ₹ 23,360
  5. Cheques deposited into the bank but not yet credited ₹ 43,400
  6. Interest on investment collected by the bank ₹ 24,000
Exercises | Q IV 10. | Page 175

Prepare bank reconciliation statement as on 31st March, 2017 from the following extracts of cash book and bank statement.

Dr. Cash book (Bank column only) Cr.
Date Receipts Amount ₹ Date Payments Amount ₹
2017
March
    2017
March
   
1 To Balance b/d 9,000 4 By Drawings 1,700
3 To Ram 2,200 8 By Sumi 3,300
9 To Prem 1,500 12 By Salary 2,800
16 To Pavithra 3,400 16 By Kayal 1,700
23 To Devi 2,600 18 By Pooja 4,200
27 To Mani 1,100 26 By Sam 2,000
30 To Shankar 350 28 By Raheem 1,100
      30 By Rent 1,100
      30 By Balance c/d 2,250
    20,150     20,150

 

Date Particulars Dr.
Withdrawals ₹
Cr.
Deposits ₹
Balance
Dr./Cr.
2017
March
       
1 By balance b/d     9,000 Cr.
4 To cheque- drawings     8,300 Cr.
5 By cheque- Ram 700 2,200 10,500 Cr.
9 To cheque – Sumi     7,200 Cr.
11 By cheque- Prem 3,500 1,500 8,700 Cr.
12 To cheque – Salary     5,900 Cr.
17 To cheque – Kayal 2,800   4,200 Cr.
20 By cheque- Devi 1,700 2,600 6,800 Cr.
30 By interest received   900 7,700 Cr.
30 To bank charges 15   7,685 Cr.

Chapter 8: Bank Reconciliation Statement

Multiple choice questionsVery short answer questionsShort answer questionsExercises
Class 11th Accountancy Answers Guide - Shaalaa.com

Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Accountancy Answers Guide chapter 8 - Bank Reconciliation Statement

Tamil Nadu Board Samacheer Kalvi solutions for Class 11th Accountancy Answers Guide chapter 8 (Bank Reconciliation Statement) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Tamil Nadu Board of Secondary Education Class 11th Accountancy Answers Guide solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Class 11th Accountancy Answers Guide chapter 8 Bank Reconciliation Statement are Introduction of Bank Reconciliation Statement, Reasons Why Bank Column of Cash Book and Bank Statement May Differ, Preparation of Bank Reconciliation Statement, Bank Reconciliation Statement.

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