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Computation of Income Tax

On 31st Decem...

Question

On 31st December, 2014 the Cash Book of Gopal showed debit balance of ₹ 12,000. On comparing the Cash Book with the Pass Book, the following discrepancies were noted:-
(a) Cheques were issued for ₹ 15,000, but of them cheques for ₹ 7,700 have not yet been presented.
(b) Cheques for ₹ 8,000 were deposited in bank but of these cheques for ₹ 2,000 were not recorded in the Cash Book.
(c) Cheques deposited in bank but not credited ₹ 3,800.
(d) A cheque for ₹ 350 was paid into bank but bank credited the amount with ₹ 530 by mistake.
(e) Bank received interest on debentures on behalf of Gopal amounting to ₹ 300.
(f) It was also found that the total of one page on the payment side of the Cash Book was ₹ 4,520 but it was written on the next page as ₹ 5,420.
Prepare a Bank Reconciliation Statement.

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Solution

Bank Reconciliation Statement
as on December 31, 2014

S. No. Particulars Plus Items (Rs) Minus Items (Rs)

Debit Balance as per Cash Book 12,000

Add: (a) Cheque issued but not presented
7,700

(b) Cheque deposited but not entered in Cash Book
2,000

(d) Amount wrongly credited by bank (530 – 350)
180

(e) Interest on Debentures received
300

(f) Overcasting of Payment side of Cash Book (5,420 – 4,520)
900

Less: (c) Cheque deposited but not credited
3,800

Credit Balance as per Pass Book 19,280

23,080 23,080

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Q. Bank Statement of a customer shows bank balance of ₹ 62,000 on 31st March, 2018. On Comparing it with the Cash Book the following discrepancies were noted:
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Q. From the following particulars prepare a bank reconciliation statement of Govil as on 31st December, 2014.

Balance as per Pass Book on 31st December 2014 is ₹ 8,500. Cheques for ₹ 5,100 were issued during the month of December but of these cheques for ₹ 1,200 were presented in the month of January 2015 and one cheque for ₹ 200 was not presented for payment. Cheques and cash amounting to ₹ 4,800 were deposited in bank during December but credit was given for ₹ 3,800 only. A customer has deposited ₹ 800 into bank directly. The bank credited the merchant for ₹ 200 as interest and has debited him for ₹ 30 as bank charges for which there are no corresponding entries in Cash Book.

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