Which of the following errors/ omissions are not a part of Bank reconciliation process?

Wrong totaling of Bank column of Cash book.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Wrong totalling of Cash column of Cash book.

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Posting wrong amount is Bank Column of Cash book.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Omission to carry forward balance in bank column of cash book.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Wrong totalling of Cash column of Cash book.
Bank reconciliation statement is a statement prepared on a particular day to reconcile the bank balance as per cashbook and balance as per passbook showing entries causing difference between the two balances.
Following are the errors for which bank reconciliation statement is prepared:
1. Differences due to timing.
2. Transactions recorded by the bank but not by the business organisation.
3. Errors committed .
Cash column of the cashbook does not affect passbook in anyway, therefore errors in cash column of cashbook are not a part of bank reconciliation process.

Suggest Corrections

Similar questions

From the following Cash Book (with cash and Bank columns) prepare necessary Ledger Accounts and balance them.

Cash Book (with Cash & Bank Columns)
Dr.						Cr.
Date	Particulars	L.F.	Cash Rs	Bank Rs	Date		Particulars	L.F	Cash Rs	Bank Rs
2011 Apr.					2011 Apr.
1	To Balance b/d		400	1,000	1		By Purchases A/c		700
2	To Ram ‘s A/c		980		3		By Rent A/c			200
3	To Sales A/c			4,000	10		By Sita’ s A/c		300
7	To Interest A/c		120		8		By Salaries A/c			450
10	To Sales A/c		500		10		By Purchases A/c			1,350
25	To Bank A/c		2,000		30		By Cash A/c			2,000
					30		By Balance c/d		3,000	1,000
			4,000	5,000					4,000	5,000
May 1	To Balance b/d		3,000	1,000

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 30^th 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

Q. Cash receipt of

R s . 5100

was wrongly posted to bank column of cash book as

R s . 510

. Bank balance as per cash book will be ________.

Q. Bank column of the Cash Book has __________ balance.

Q. Cash receipt of

R s . 5100

was wrongly posted to credit side bank column of cash book as

R s . 510

. bank balance as per cash book will be ________.

Join BYJU'S Learning Program