Question

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.

Answer 1

Bank Reconciliation Statement as on September 30, 2016
S. No.	Particulars	Plus Items (Rs)	Minus Items (Rs)
	Debit Balance (Overdraft) as per Pass Book		15,000
	Add: (ii) Bank paid premium (2,000 – 200)	1,800
	(vi) Bank charges	300
	(vii) Cheque deposited but not credited (78,000 – 51,000)	27,000
	Less: (iii) Cheque issued but not presented (55,000 – 50,000)		5,000
	(iv) Direct deposit by customer		10,000
	(v) Dividend collected by bank		1,000
	Credit Balance (Overdraft) as per Cash Book	1,900
		31,000	31,000