BRS Starting with Pass Book Balance

Q.

Give Journal entries for the following :

(i) Interest due but not received Rs. 2, 000

(ii) Rent due to landlord Rs. 1, 000.

(iii) Out of the rent paid this year, Rs.3, 000 relates to next year.

Q.

Briefly explain the term 'favourable balance as per cash book'.

Q.

Unfavourable bank balance means:

1. credit balance in pass book

2. None of these

3. debit balance in pass book

4. debit balance in cash book

Q.

Favourable bank balance means:

1. Debit balance in cash book

2. Credit balance in pass book

3. Both A & B

4. None of these

Q.

When money is withdrawn from bank, the bank will ____ the customer account

1. Credit

2. Debit

3. Both A & B

4. None of the above

Q. Excess of debit side over credit side in a ledger is called?

1. Debit Balance
2. Credit Balance
3. Liability Account
4. None of the above

Q.

While preparing bank reconciliation statement, if balance as per pass book is starting point, direct deposits in bank should be:

1. None of these

2. Subtracted

3. Added

4. Ignored

Q.

If the overdraft as per the passbook is taken as the starting point, the cheques issued but not presented are to be _____ in the bank reconciliation statement.

1. Added

2. None of these

3. Subtracted

4. Ignored

Q.

Find the balance as per cash book from following details:

Debit balance in passbook: Rs 6, 700

Direct deposits by customers: Rs 4, 800

Bank interest debited by bank: Rs 200

Insurance premium paid by bank: Rs 2, 000

1. Rs 10, 200 credit balance

2. Rs 9, 300 debit balance

3. Rs 9, 300 credit balance

4. Rs 10, 200 credit balance

Q. While preparing bank reconciliation statement, cheques deposited into bank but not yet cleared are _________.

1. added to the balance as per cash book to arrive at the balance as per pass book
2. deducted to the balance as per cash book to arrive at the balance as per pass book
3. multiplied to the balance as per cash book to arrive at the balance as per pass book
4. divided to the balance as per cash book to arrive at the balance as per pass book

Q.

From the following particulars, find balance as per cash book as at March 31, 2018.
(i) Debit balance as per pass book Rs 8, 250
(ii) Cheques issued but not presented Rs 2, 750
(iii) Direct deposit to bank by customers Rs.2, 200
(iv) Dividend received directly into the bank account Rs 300

1. Rs.14, 500 credit balance

2. Rs.13, 500 debit balance

3. Rs.13, 500 credit balance

4. Rs.14, 500 debit balance

Q.

[dummy - to be removed] What is the journal entry in bank books for the transaction of withdrawing RS 1200 from the bank by a customer?

1. Cash account shall be credited & customer`s account shall be debited

2. Cash account shall be debited & customer`s account shall be credited

3. Bank account shall be credited & customer`s account shall be debited

4. None of the above

Q. From the following particulars a Bank Reconciliation Statement for the year ending on 31^st March 2011

(i) Bank balance as per Cash Book Rs 8, 600
(ii) Cheques of Rs 4, 000 issued but not presented for payment
(iii) Bank debited bank charges Rs 200
(iv) Cheque of Rs 2, 800 deposited into the Bank but not Credited by Bank
(v) Bank paid Insurance Premium on our behalf directly Rs 2, 500 not recorded in the Cash Book.
(vi) Bank Credited interest on investment Rs 1, 900 but not recorded in the Cash Book.

Q.

From the following particulars, find balance as per cash book as at March 31, 2018.
(i) Credit balance as per pass book Rs 5, 200
(ii) Insurance premium paid directly by bank Rs 2, 000
(iii) Direct deposit to bank by customers Rs 4, 100
(iv) Interest credited by bank Rs 300

1. Rs.2, 800 debit balance

2. Rs.3, 500 credit balance

3. Rs.2, 800 credit balance

4. Rs.3, 500 debit balance

Q.

From the following particulars, find balance as per cash book as at March 31, 2018.
(i) Credit balance as per pass book Rs 9, 250
(ii) Credit card bill paid by bank Rs 3, 200
(iii) Dividend received directly in bank Rs 2, 500
(iv) Direct deposits by customers Rs 2, 750

1. Rs 8, 100 debit balance

2. Rs 7, 750 debit balance

3. Rs 7, 200 debit balance

4. Rs 7, 750 credit balance

Q. Overdraft balance as per cash book will be _________________.

1. shown in minus column of bank reconciliation statement
2. will be carried forward for next period
3. shown in 'plus' column of bank reconciliation statement
4. none of the above

Q. In a company ABC Ltd, there are 10 accounts which have debit balances & there are 15 accounts which have credit balances. Accountant of the company Mr. Sushil is of the opinion that all the accounts with debit balances & only 10 accounts having credit balances shall be taken while preparation of the trial balance. What is your opinion in this regard?

1. None of the above
2. Accountant of the company is correct
3. Accountant is incorrect. All 15 accounts shall be taken for preparation of Trial Balance
4. Trial Balance does not contain accounts having credit balances

Q.

Unfavourable bank balance means:

1. credit balance in pass book

2. credit balance in cash book

3. debit balance in cash book

4. None of these

Q. State whether the following statements are true or false.

1) Cash memo is used for credit purchase/sale.
2) A receipt is used for cash sales.
3) Crossed cheque is a very safe cheque.
4) A voucher is a document in support of an entry in the books of account.
5) Only withdrawal slip is used to withdraw the amount from the bank.
6) A bearer cheque is just like a withdrawal slip.

Q. When drawing up a Bank Reconciliation Statement, if you start with a debit balance as per the Bank Statement, cheques issued but not presented for payment should be __________.

1. added
2. deducted
3. not required to be adjusted
4. none of the above

Q. What do you understand by unfavourable balance of a bank column of cash book?

Q. The proper treatment of unrecorded deposits (deposits in transit) on a bank reconciliation when pass book balance is the starting point is ___________.

1. addition
2. deduction
3. ignore
4. none of the above

Q. Select the most appropriate answer from the alternatives given below and rewrite the sentence

When cheque is ________ into Bank, cash Book is debited
a) issued
b) deposited
c) dishonoured
d) written

Q. Answer in one sentence only.

Which account is opened by a trader in Bank for his business operations?

Q. Question

Q.

Q.

Prepare a BRS of Mr.Rajesh from the following particulare:

(i) bank balance as per cash book Rs.7000 as on 31/3/2009

(ii) cheques issued but not presented for payment Rs.1800

(iii) cheques deposited into bank but not yet credited Rs.900

(iv) dividend collected by the bank Rs.300

(v) bank charges debited by the bank Rs.50

(vi)direct deposit by the costumer in the bank Rs.2000

(vii) payment side of cash book has been undercast by Rs.200