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Standard IX
Mathematics
Computation of Income Tax
Mr. Lal opera...
Question

Mr. Lal operates two bank accounts both of which are maintained in the columnar cash book itself. You are required to prepare a proforma of the cash book, record the following transactions therein and draw the closing balances as on 30th June, 2016:

2016

(₹)
June 20 Opening Balance of Cash 1,180
Progressive Bank 19,040
Goodwill Bank (Overdraft) 6,460
20 Received cheque for ₹ 1,800 from a debtor Mr. X and deposited in Goodwill Bank. The Bank credited the amount on 23rd June and debited ₹ 4 as its collection charges.
21 Purchased goods for ₹ 18,210 and a cheque issued on Progressive Bank.
22 Paid office expenses ₹ 410 and ₹ 80 for stationery in cash.
23 Deposited a cheque for ₹ 21,090 being sale proceeds of goods in Progressive Bank. The Bank credited the amount on the same day and debited ₹ 21 as cheque discounting charges.
23 A cheque for ₹ 8,000 drawn by Mr. Lal himself on Progressive Bank was deposited in his account with Goodwill Bank.
25 Cash drawn from the account with Progressive Bank ₹ 600 for office use.
25 A cheque for ₹ 1,100 received from Mr. A and earlier deposited in Goodwill Bank (on 14th June) was returned unpaid and Bank debited ₹ 10 towards its charges. Mr. Lal received the amount of returned cheque and Bank charges in cash from Mr. A.
28 Deposited cash ₹ 1,500 in the account with Goodwill Bank.
29 Purchased postal stamps for ₹ 200 and paid in cash.

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Solution

Cash Book
Dr. Cr.
Date Particulars L.F. Cash (Rs) Progressive Bank
(Rs)		 Goodwill Bank (Rs) Date Particulars L.F. Cash (Rs) Progressive Bank
(Rs)		 Goodwill Bank (Rs)
2016 2016
June 20 Balance b/d 1,180 19,040 – June 20 Balance b/d – – 6,460
June 20 X – – 1,800 June 21 Purchases A/c – 18,210 –
June 23 Sales A/c – 21,090 – June 22 Office Expenses A/c 410 – –
June 23 Progressive Bank A/c C – – 8,000 June 22 Stationery A/c 80 – –
June 25 Progressive Bank A/c C 600 – – June 23 Bank Charges A/c – – 4
June 25 A 1,110 – – June 23 Bank Charges A/c – 21 –
June 28 Cash A/c C – – 1,500 June 23 Goodwill Bank A/c C – 8,000 –
June 25 Cash A/c C – 600 –
June 25 A – – 1,110
June 28 Goodwill Bank A/c C 1,500 – –
June 29 Postage A/c 200 – –
June 30 Balance c/d 700 13,299 3,726
2,890 40,130 11,300 2,890 40,130 11,300
July 01 Balance b/d 700 13,299 3,726

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Q. Mr. Chaturvedi maintains two bank accounts. Prepare his columnar cash book from the following particulars:

2016

(₹)
May 1 Cash in hand 34,000
Balance with Hongkong Bank 75,200
Balance with Citi Bank 1,20,000
May 3 Cash drawn from Citi Bank for office use 25,000
May 8 Sold goods to Diwedi for ₹ 80,000 and received from him ₹ 20,000 in cash and a cheque for the balance. The cheque is deposited in Hongkong Bank on 9th and the bank credited the amount on 15th and debited ₹ 25 as its collection charges.
May 12 Purchased goods for ₹ 40,000 at 20% trade discount. 25% of the amount is paid in cash and issued a cheque on Citi Bank for the balance amount.
May 20 Paid Wages ₹ 36,000 and Salary ₹ 4,000.
May 22 A cheque for ₹ 50,000 is drawn on Citi Bank and it is deposited in Hongkong Bank.
May 23 Purchased land for ₹ 3,20,000 and a cheque is issued on Hongkong Bank.
May 24 A cheque for ₹ 10,000 which was received from Mohan and was deposited in Citi Bank on 25th April is dishonoured and the bank debited ₹ 100 as bank charges on this cheque. The amount of dishonoured cheque and bank charges is received from Mohan in cash on 25th.
May 26 Deposited cash ₹ 30,000 in Hongkong Bank.
May 28 Sold old typewriter for ₹ 2,000 and old newspapers for ₹200 in cash.
May 30 Interest charged by Hongkong Bank ₹ 400.
May 31 Bank charges by Citi Bank ₹ 180 and Hongkong Bank ₹ 340.
Q.

The following are the Cash Book and Pass Book extracts of Mr. Anil for the month of May 2011. From this information you are required to prepare a Bank Reconciliation Statement as on 31st May 2011.

Cash Book (Bank Column Only)
Dr.
Cr.
Date
Particulars
Rs
Date
Particulars
Rs
2011 May 4
Ankita’s A/c
2,300
2011 May 1
By Balance b/d
7,500
11
To Kavita;s A/c
3,700
4
By Roky’s A/c
2,000
14
To Sales A/c
14,500
6
By Mamata’s A/c
2,500
15
To Furniture A/c
2,000
9
By Sonali’s A/c
4,000
22
To Anita’s A/c
1,500
15
By Manjiri’s A/c
1,500
26
To Ganesh’s A/c
4,000
17
By Purchases A/c
7,000
28
To Kamal’s A/c
3,000
20
By Drawings A/c
2,400
30
To Prakash’s A/c
1,000
24
By Machinery A/c
10,000
30
Too Balance’s c/d
8,500
27
By Archan’s A/c
3,600
40,500
40,500

Pass Book
Dr.
Cr.
Date
Particulars
Rs
Date
Particulars
Rs
2011 May 1
To Sonali’s A/c
4,000
2011 May 1
By Balance b/d
13,400
2
To Manjiri’s A/c
1,500
4
By Anita’s A/c
1,500
14
To Cash A/c
10,000
6
By Ganesh’s A/c
4,000
17
To Archana’s A/c
3,600
17
By Cash A/c
14,500
18
By Kamal’s
3,000
19
By Prakash’s A/c
1,000
Q. Transactions affecting cash balance only are recorded in the books of accounts.
Q. While comparing the cash book of Mayank with the bank pass book on 30th September, 2016 you find the following:
(i) The bank pass book showed a debit balance of ₹ 15,000.
(ii) Bank paid insurance premium ₹ 2,000, but it was recorded as ₹ 200 only in cash book.
(iii) Cheques issued in favour of suppliers in September, 2016 amounted to ₹ 55,000, but cheques for ₹ 50,000 only were presented for payment upto 30th September, 2016.
(iv) Direct deposit of ₹ 10,000 in Mayank's bank account by a customer on 25th September, 2016 had not been recorded in the cash book.
(v) Dividend collected by bank, but not recorded in cash book ₹ 1,000.
(vi) Bank charged ₹ 300 for its services, but they were yet to be recorded in cash book.
(vii) Cheques amounting to ₹ 78,000 were deposited with bank in the last week of September, 2016 but cheques for ₹ 51,000 only had been cleared before 1st October, 2016.
Prepare the bank reconciliation statement ascertaining bank balance/overdraft as per cash book.
Q.

From the following entries in the Bank column of the cash Book of Mr. Kunal and the corresponding Bank Statement, prepare Bank Reconciliation Statement as on 30th April 2011.

Cash Book (Bank Column)
Dr. Cr.
Date
Receipts
Rs
Date
Payments
Rs
2011
April 1
To Balance b/d
12,500
2011
Apr. 1
By Salaries A/c
4,000
4
To Sales A/c
8,000
7
By Purchases A/c
3,200
8
To Paritosh A/c
1,500
9
By Machinery A/c
6,000
13
To Mahima’s A/c
3,400
11
By Omkar’s A/c
1,000
18
To Karina’s A/c
4,600
15
By Drawings A/c
800
21
To Furniture A/c
1,200
18
By Vijay’s A/c
2,000
25
To Sales A/c
3,800
20
By Shobha’s A/c
1,000
30
Too Firoz’s A/c
3,000
28
By Printing A/c
500
30
By Balance c/d
19,500
38,000
38,000

Bank Statement
Date
Particulars
Deposits
Rs
Withdrawals
Rs
Balance
Rs
2011 April 1
Balance
12,500
2
Cheque
4,000
8,500
6
Cash
8,000
16,500
6
Cheque
3,200
13,300
10
Paritosh
1,500
14,800
16
Mahima
3,400
18,200
17
Cheque
800
17,400
20
Karin
4,600
22,000
24
Cash
3,800
25,800
28
Cheque
6,000
19,800
28
Shobha
1,000
18,800
30
Interest
100
18,900
30
Firoz
3,000
21,900
30
Bank Charges
10
21,890

You are required to prepare Bank Reconciliation Statement as on 30th April 2011

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