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From the following particulars prepare the bank reconciliation statement of Businessman has on 31st March 2024 first bank overdraft has per cash book 24000 cash receive from XC was entered in bank column of cash book 3150 check deposited as per bank statement but not required in cash book 4000 debit side of bank column casted short 1000 we check for 9000 deposted but collection as per bank statement 8950 bill send it to the bank for collection collected by the bank but not recorded cash book 4200 Bank charges recorded recorded in cas
h book 40 noting charges debited in passbook for discount bill dishonore 60 checks deposited on 25th March 2024 but collected by bank on 5th April 24 4800 checks issued on 26th March but presented for engagement on 6th April 3000?
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From the following particulars prepare the bank reconciliation stateme...
Bank Reconciliation Statement as of 31st March 2024
To prepare the bank reconciliation statement, we start with the bank overdraft as per the cash book and adjust for various transactions.
1. Opening Balance
- Bank Overdraft as per Cash Book: (24,000)
2. Additions
- Cash received from XC entered in the bank column: 3,150
- Cheque deposited but not recorded in cash book: 4,000
- Bill sent to the bank for collection: 4,200
- Noted cheque error (short casting): 1,000 (adjusting the debit side)
3. Deductions
- Bank charges recorded in cash book: 40
- Noting charges for dishonored bill: 60
- Cheque deposited on 25th March but collected on 5th April: (4,800)
- Cheques issued on 26th March but presented on 6th April: (3,000)
- Collection of cheque was 8,950 instead of 9,000: (50)
4. Calculation
- Adjusted Bank Balance Calculation:
Opening Overdraft: (24,000)
Add: Cash received + Cheque deposits + Bill collection = 3,150 + 4,000 + 4,200 + 1,000 = 12,350
Less: Bank charges + Noting charges + Cheque delay + Collection shortfall = 40 + 60 + 4,800 + 3,000 + 50 = 7,950
Final Bank Balance: (24,000) + 12,350 - 7,950 = (19,600)
5. Conclusion
The adjusted bank overdraft as of 31st March 2024 is (19,600). This reconciles the differences between the cash book and the bank statement, ensuring all transactions are accounted for accurately.
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From the following particulars prepare the bank reconciliation statement of Businessman has on 31st March 2024 first bank overdraft has per cash book 24000 cash receive from XC was entered in bank column of cash book 3150 check deposited as per bank statement but not required in cash book 4000 debit side of bank column casted short 1000 we check for 9000 deposted but collection as per bank statement 8950 bill send it to the bank for collection collected by the bank but not recorded cash book 4200 Bank charges recorded recorded in cash book 40 noting charges debited in passbook for discount bill dishonore 60 checks deposited on 25th March 2024 but collected by bank on 5th April 24 4800 checks issued on 26th March but presented for engagement on 6th April 3000?
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From the following particulars prepare the bank reconciliation statement of Businessman has on 31st March 2024 first bank overdraft has per cash book 24000 cash receive from XC was entered in bank column of cash book 3150 check deposited as per bank statement but not required in cash book 4000 debit side of bank column casted short 1000 we check for 9000 deposted but collection as per bank statement 8950 bill send it to the bank for collection collected by the bank but not recorded cash book 4200 Bank charges recorded recorded in cash book 40 noting charges debited in passbook for discount bill dishonore 60 checks deposited on 25th March 2024 but collected by bank on 5th April 24 4800 checks issued on 26th March but presented for engagement on 6th April 3000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about From the following particulars prepare the bank reconciliation statement of Businessman has on 31st March 2024 first bank overdraft has per cash book 24000 cash receive from XC was entered in bank column of cash book 3150 check deposited as per bank statement but not required in cash book 4000 debit side of bank column casted short 1000 we check for 9000 deposted but collection as per bank statement 8950 bill send it to the bank for collection collected by the bank but not recorded cash book 4200 Bank charges recorded recorded in cash book 40 noting charges debited in passbook for discount bill dishonore 60 checks deposited on 25th March 2024 but collected by bank on 5th April 24 4800 checks issued on 26th March but presented for engagement on 6th April 3000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following particulars prepare the bank reconciliation statement of Businessman has on 31st March 2024 first bank overdraft has per cash book 24000 cash receive from XC was entered in bank column of cash book 3150 check deposited as per bank statement but not required in cash book 4000 debit side of bank column casted short 1000 we check for 9000 deposted but collection as per bank statement 8950 bill send it to the bank for collection collected by the bank but not recorded cash book 4200 Bank charges recorded recorded in cash book 40 noting charges debited in passbook for discount bill dishonore 60 checks deposited on 25th March 2024 but collected by bank on 5th April 24 4800 checks issued on 26th March but presented for engagement on 6th April 3000?.
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