Worksheet: Bank Reconciliation Statement | Accountancy Class 11 - Commerce PDF Download

Q1: State the need for the preparation of a bank reconciliation statement.

Q2: What is a bank overdraft?

Q3: Briefly explain the statement ‘wrongly debited by the bank’ with the help of an example.

Q4: State the causes of difference that occurred due to time lag.

Q5: Briefly explain the term favourable balance as per cash book

Q6: Enumerate the steps to ascertain the correct cash book balance.

Q7: Explain the process of preparing a bank reconciliation statement with an amended cash balance.

Q8: What is a bank reconciliation statement? Why is it prepared?

Q9: From the following particulars, prepare a bank reconciliation statement as of March 31, 2017.
(i) Balance as per cash book ₹ 3,200
(ii) Cheque issued but not presented for payment ₹ 1,800
(iii) Cheque deposited but not collected up to March 31, 2017, ₹ 2,000
(iv) Bank charges debited by bank ₹ 150

Q10: On March 31, 2017, the cash book showed a balance of ₹ 3,700 as cash at the bank, but the bank passbook made up to the same date showed that cheques for ₹ 700, ₹ 300, and ₹ 180 respectively had not been presented for payment, Also, cheque amounting to ₹ 1,200 deposited into the account had not been credited. Prepare a bank reconciliation statement.

Q11: The cash book shows a bank balance of ₹ 7,800. On comparing the cash book with the passbook the following discrepancies were noted:
(a) Cheque deposited in the bank but not credited ₹ 3,000
(b) Cheque issued but not yet present for payment ₹ 1,500
(c) Insurance premium paid by the bank ₹ 2,000
(d) Bank interest credit by the bank ₹ 400
(e) Bank charges ₹ 100
(f) Directly deposited by a customer ₹ 4,000

Q12: Bank balance of ₹ 40,000 showed in the cash book of Atul on December 31, 2016. It was found that three cheques of ₹ 2,000, ₹ 5,000, and ₹ 8,000 deposited during the month of December were not credited in the passbook till January 02, 2017. Two cheques of ₹ 7,000 and ₹ 8,000 issued on December 28, were not presented for payment till January 03, 2017. In addition to it, the bank had credited Atul for ₹ 325 as interest and had debited him with ₹ 50 as bank charges for which there were no corresponding entries in the cash book.
Prepare a bank reconciliation statement as of December 31, 2016.

Q13: On comparing the cash book with the passbook of Naman it is found that on March 31, 2017, the bank balance of ₹ 40,960 shown by the cash book differs from the bank balance with regard to the following:
(a) Bank charges ₹ 100 on March 31, 2017, are not entered in the cash book.
(b) On March 21, 2017, a debtor paid ₹ 2,000 into the company’s bank in settlement of his account, but no entry was made in the cash book of the company in respect of this.
(c) Cheques totalling ₹ 12,980 were issued by the company and duly recorded in the cash book before March 31, 2017, but had not been presented at the bank for payment until after that date.
(d) A bill for ₹ 6,900 discounted with the bank is entered in the cash book with a recording of the discount charge of ₹ 800.
(e) ₹ 3,520 is entered in the cash book as paid into the bank on March 31st, 2017, but not credited by the bank until the following day.
(f) No entry has been made in the cash book to record the dishonour or on March 15, 2017, of a cheque for ₹ 650 received from Bhanu.
Prepare a reconciliation statement as of March 31, 2017.

Find out the answers to this Worksheet here.