Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev

Principles and Practice of Accounting

CA CPT : Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev

The document Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev is a part of the CA CPT Course Principles and Practice of Accounting.
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TEST YOUR KNOWLEDGE
Multiple Choice Questions
Ques 1:
When the balance as per Cash Book is the starting point, direct deposits by customers are:
(a)  Added  
(b) Subtracted
(c) Not required to be adjusted.

Ques 2: A debit balance in the depositor’s Cash Book will be shown as:
(a) A debit balance in the Bank Statement.
(b)  A credit balance in the Bank Statement.
(c) An overdrawn balance in the Bank Statement.

Ques 3: When balance as per Pass Book is the starting point, interest allowed by Bank is (a) Added
(b) Subtracted
(c) Not required to be adjusted.

Ques 4: A Bank Reconciliation Statement is prepared with the help of:
(a) Bank statement and bank column of the Cash Book.
(b) Bank statement and cash column of the Cash Book
(c) Bank column of the Cash Book and cash column of the Cash Book.

Ques 5: The cash book showed an overdraft of ₹1,50,000, but the pass book made up to the same date showed that cheques of ₹10,000, ₹5,000 and ₹12,500 respectively had not been presented for payments; and the cheque of ₹4,000 paid into account had not been cleared. The balance as per the pass book will be:
(a) ₹1,10,000
(b) ₹2,17,500
(c) ₹1,26,500

Ques 6: When drawing up a Bank Reconciliation Statement, if you start with a debit balance as per the Bank Statement, the unpresented cheques should be:
(a) Added;    
(b) Deducted;
(c) Not required to be adjusted.

Ques 7: When drawing up a BRS if you start with a Dr. Balance as per Bank Statement, the following are added:
1.  Cheque issued but not presented to bank
2.  B/R collected directly by bank
3.  Overcasting of the Dr. Side of bank A/c in the cash book.
(a) only 1
(b) only 1& 2
(c) all of the above
(d) only 3.

Theory Questions:-
Ques 1: Write short note on Bank reconciliation statement.

Ques 2: State the causes of difference between the balance shown by the pass book and the cash book.

Practical Questions:-

Ques 1: From the following particulars prepare a bank reconciliation statement as on 31st December 2017:
(i) On 31st December, 2017 the cash-book of a firm showed a bank balance of ₹60,000 (debit balance).
(ii) Cheques had been issued for ₹15,00,000, out of which cheques worth ₹4,00,000 only were presented for payment.
(iii) Cheques worth ₹11,40,000 were deposited in the bank on 28th December,2017 but had not been credited by the bank. In addition to this, one cheque for ₹5,00,000 was entered in the cash book on 30th December, 2017 but was banked on 3rd January, 2018.
(iv) A cheque from Susan for ₹4,00,000 was deposited in the bank on 26th December 2017 but was dishonoured and the advice was received on 2nd January, 2018.
(v) Pass-book showed bank charges of ₹2,000 debited by the bank.
(vi) One of the debtors deposited a sum of ₹5,00,000 in the bank account of the firm on 20th December, 2017 but the intimation in this respect was received from the bank on 2nd January, 2018.
(vii) Bank pass-book showed a credit balance of ₹3,82,000 on 31st December, 2017.

Ques 2: According to the cash-book of Gopi, there was a balance of ₹44,50,000 in his bank on 30th June, 2017. On investigation you find that :
(i) Cheques amounting to ₹6,00,000 issued to creditors have not been presented for payment till the date.
(ii) Cheques paid into bank amounting to ₹11,05,000 out of which cheques amounting to ₹5,50,000 only collected by the bank up to 30th June 2017.
(iii) A dividend of ₹40,000 and rent amounting to ₹6,00,000 received by the bank and entered in the pass-book but not recorded in the cash book.
(iv) Insurance premium (up to 31st December, 2017) paid by the bank ₹27,000 not entered in the cash book.
(v) The payment side of the cash book had been under casted by ₹5,000.
(vi) Bank charges ₹1,500 shown in the pass book had not been entered in the cash book.
(vii) A bill payable of ₹2,00,000 had been paid by the bank but was not entered in the cash book and bill receivable for ₹60,000 had been discounted with the bank at a cost of ` 1,000 which had also not been recorded in cash book.

Required:-
(a) to make the appropriate adjustments in the cash book, and
(b) to prepare a statement reconciling it with the bank pass book.

Ques 3: Prepare a bank reconciliation statement as on 30th September, 2017 from the following particulars:
Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev

Ques 4: Prepare a bank reconciliation statement from the following particulars on 31st March, 2017:
Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev

ANSWERS/HINTS

MCQs
1. (a) 2. (b) 3. (b) 4. (a) 5. (c) 6. (a) 7. (b)
Theoretical Questions
1. Bank reconciliation statement is prepared as on a particular date to reconcile and explain the causes of dierence between the bank balance as per cash book and the same as per savings bank pass book or current account statement. At the end of each month, the bank balance as per cash book and that as per pass book /bank statement should be compared and, if there is disagreement, these balances should be reconciled stating exact reasons of disagreement. The reconciliation is made in a statement called the bank reconciliation statement.    
2. The difference between the balance shown by the passbook and the cashbook may arise on account of the following:
(i) Cheques issued but not yet presented for payment.
(ii) Cheques deposited into the bank but not yet cleared.
(iii) Interest allowed by the bank.
(iv) Interest and expenses charged by the bank.
(v) Interest and dividends collected by the bank.
(vi) Direct payments by the bank.
(vii) Direct deposits into the bank by a customer.
(viii) Dishonour of a bill discounted with the bank.
(ix) Bills collected by the bank on behalf of the customer.
(x) An error committed by the bank etc.

Practical Questions
Answer 1

Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev
Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev

Answer 3: 
Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev

Answer 4:
Bank Reconciliation Statement Part - 3 CA CPT Notes | EduRev 

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