Prepare a bank reconciliation statement and find the difference in two balances for the company ABC Ltd with the following data as on September 30th , XXXX. a) Bank overdraft as per bank statement Rs.25000/- b) Check issued (not encashed) Rs.2000/- c) Dividends on share (collected by bank) Rs.2200/- d) Interest charged by bank (recorded twice in cash book) Rs.800/- e) Check deposited (not entered in cashbook) Rs.3800/- f) Bank column (credit side) in cash book cash short Rs.1200/- g) Dues paid by bank (not recorded in cash bank) Rs.1000/- h) Uncredited check (outstation) Rs.3500/-

Question

Prepare a bank reconciliation statement and find the difference in two balances for the company ABC Ltd with the following data as on September 30th , XXXX. a) Bank overdraft as per bank statement Rs.25000/- b) Check issued (not encashed) Rs.2000/- c) Dividends on share (collected by bank) Rs.2200/- d) Interest charged by bank (recorded twice in cash book) Rs.800/- e) Check deposited (not entered in cashbook) Rs.3800/- f) Bank column (credit side) in cash book cash short Rs.1200/- g) Dues paid by bank (not recorded in cash bank) Rs.1000/- h) Uncredited check (outstation) Rs.3500/-

Banking & FinanceFinance ManagementGrowth & Empowerment

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Solution

The solution is as follows −

Cash book	Bank statement
Dividend (Rs.2200/-)	Balance (Rs.25000/-)
Interest error(Rs.800/-)	Uncashed check (Rs.2000/*)
Deposited(Rs.3800/-)	Uncredited (Rs.3500/-)
Cash short(Rs.1200/*)
Dues paid(Rs.1000/-)

ABC Ltd Bank Reconciliation statement as on 30th September, XXXX
Bank overdraft (Dr)		25000
(+)
Check issued (not enchased)	2000
Dividends on shares (collected by bank)	2200
Interest charged (recorded twice)	800
Check deposited (not entered in cash book)	3800
		8800
		33800
(-)
Cash short (credit side of bank column)	1200
Dues paid by bank	1000
Uncredited check (outstation)	3500
		(5700)
Balance (as per cash book) (Cr)		28100

Mandalika

Published on 28-Sep-2020 14:31:50

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