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Standard XI
Accountancy
Bank Reconciliation Statement(BRS)
Which is the ...
Question

Which is the statement is uncommon for a Bank Reconciliation Statement?
a. Part of the double entry system
b. Not part of the double entry system
c. Sent by the firm to the bank
d. Posted to the ledger accounts.

A
(iv), (i) and (ii)
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B
(i), and (ii)
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C
(i), (ii) and (iv)
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D
(i), (iii) and (iv)
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Solution

The correct option is D (i), (iii) and (iv)
A bank reconciliation statement is prepared by an account holder for his own internal use. It is just a memorandum statement and is not a part of the books of accounts. This statement is prepared for the account holder's own purpose and hence is not shared with the bank.

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Q. Which statement is uncommon for a Bank Reconciliation Statement?
(i). Part of the double entry system
(ii). Not part of the double entry system
(iii). Sent by the firm to the bank
(iv). Posted to the ledger accounts.
Q.

Is bank reconciliation statement,
a part of double entry system?

Q. Prepare Bank Reconciliation Statement as on 30th September, 2016 from the following particulars:
₹
(i) Bank Balance as per Pass Book. 10,000
(ii) Cheque deposited into bank but no entry was passed in Cash Book. 500
(iii) Cheque received and entered in Cash Book but not sent to bank. 1,200
(iv) Insurance premium paid directly by the bank. 800
(v) Bank charges entered twice in the Cash Book. 20
(vi) Cheque received entered twice in Cash Book. 1,000
(vii) Bill discounted dishonoured not recorded in the cash book. 5,000
Q. Receipt and Payment account is _______ the double entry system whereas Income and Expenditure account is ______ the double entry system.
Q. The Bank Column of Mukesh's Cash Book as on 31st March, 2018 showed an overdraft of Rs. 1,80,000. His Bank Statement Showed an overdraft of Rs. 1,13,900. Prepare Bank Reconciliation Statement taking the following into account:
(i) Cheque deposited into bank but entry is not passed in the Cash Book. Rs. 3000.
(ii) Cheque received and entered into the Cash Book but was not sent to bank. Rs. 10,000.
(iii) Credit side of the Bank column casted short by Rs. 1,000
(iv) Insurance premium paid directly by the bank under standing instructions was not recorded in the Cash Book. Rs. 5,000
(v) Bank charges entered in the Cash book twice. Rs. 100
(vi) Cheque 'received' returned on technical grounds but entry was not passed. Rs. 4,000
(vii) Cheque 'issued' returned on technical grounds but entry was not passed. Rs. 3,000
(viii) Bill discounted dishonoured. Rs. 40,000
(ix) Bills Recievable directly collected by the bank. Rs. 20,000
An amount of Rs. 1,00,000 being collection of Mahesh's cheque was wrongly credited to the account of Mukesh by the bank in his bank statement.
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