1. Tendulkar's Cash Book showed a bank overdraft of Rs.49, 350 on 30th Sept, 2012. On comparing Cash Book with the Pass Book following information were received:
Out of the cheques which were issued by Tendulkar on 20th sept.2012, cheques of Rs.3, 700 were presented to bank on 2nd Oct.2012 for payment and a crossed cheque of Rs.750 issued to Abdulla was returned by him and in exchange for it a bearer cheque issued to him on 1st Oct.2012. Cheques amounting to Rs.3400 were deposited in the bank on 29th Sept.2012 but the bank had credited on 1st Oct.2012 cheques of Rs.1300 only and one cheque of Rs.250 was dishonoured and returned by them. According to Tendulkar's standing order the Bank had paid to his creditor's interest of Rs.320 on 30th Sept.2012, his quarterly policy premium Rs.160 and second call of Rs.600 on shares subscribed for by him. Bank received dividend of Rs.150 and received insurance claim money Rs.800 on his behalf. On all these bank expenses amounted to Rs. 15. On receipt of this information Ramesh made necessary entries in his Cash Book on SiI Oct.2012.
His bank had wrongly credited Rs.500 and wrongly debited Rs.300 to his bank account. Prepare Bank Reconciliation Statement as on 30th Sept.20 12 and in the books of Tendulkar.
quest 2
Satheesh Traders received a Bank Statement showing a favourable balance of Rs.I0,392 for the period ended on 301h June,2010, this did not agree with the balance in the cash book.
An examination of the Cash Book and Bank Statement disclosed the following:
1) A dposit of 3000 paid on 29th june 2010 had not been credited by the bank until 1 july 2010
„.
3) On 30th March,2010 the firm had entered into hire purchase agreement to pay by bankers order a sum of Rs.3,000 on the 10th of each month, commencing from Apri1,2010. No entries had been made in Cash Book.
4. A customer of the firm, who received a cash discount of 4% on his account of Rs.4,000 paid the firm a cheque on 12th June. The cashier erroneously entered the gross amount in the bank column of the Cash Book.
5. Bank charges amounting to Rs.300 had not been entered in Cash Book
6. On 28th june, a customer of the firm directly deposited the amount in the bank Rs.4,000, but no entry had been made in the Cash Book.
7. Rs,1,200 paid into the bank had been entered twice in the Cash Book.
8. A debit of Rs. 100 appeared in the Bank Statement for an unpaid cheque, which had been returned marked 'out of date'. The cheque had been re-dated by the customer and paid into Bank again on 5th July,2010.
Prepare Bank Reconciliation Statement on 30th June,2010.
- BRS of Tendulkar
Bank Reconciliation Statement as on September 30, 2012 | |||
S. No. | Particulars | Plus Items (Rs) | Minus Items (Rs) |
| Overdraft as per the Cash Book |
| 49,350 |
| Cheques issued but not presented for payment till the end of September month (3,700 + 750) |
4,450 |
|
| Cheque deposited but not credited by Bank |
| 1,300 |
| Dishonour of Cheque deposited |
| 250 |
| Direct payment as per standing instruction for Interest, Insurance Premium and Second call on shares of Rs 320, Rs 160 and Rs 600 respectively (320+160+600) |
|
1,080 |
| Dividend Collected by Bank | 150 |
|
| Insurance Claim money received | 800 |
|
| Bank expenses charged |
| 15 |
| Wrong credit granted by Bank | 500 |
|
| Wrong debit by Bank |
| 300 |
| Bank Balance as per Pass Book | 46,395 |
|
|
| 52,295 | 52,295 |
|
|
|
|
- BRS of Satheesh Traders
Bank Reconciliation Statement as on June 30, 2012 | |||
S. No. | Particulars | Plus Items (Rs) | Minus Items (Rs) |
| Balance as per the Pass Book | 10,392 |
|
1 | Cheque deposited but not credited by Bank | 3,000 |
|
3 | Hire Purchase payment made by Bank but not recorded in Cash Book (3000 × 3)* |
9,000 |
|
4 | Cash discount received but erroneously gross amount is entered in Cash Book |
160 |
|
5 | Bank Charges | 300 |
|
6 | Direct deposit by customer |
| 4,000 |
7 | Cheque received entered twice in Cash Book | 1,200 |
|
8 | Charges for unpaid cheque debited by Bank | 100 |
|
| Bank Balance as per Cash Book |
| 20,152 |
|
| 24,152 | 24,152 |
|
|
|
|
* Installments paid for 3 months i.e. on April 10, May 10 and June 10 of Rs 1,000 each were not recorded in cash book.