Page 82 - DEBK-XI(2020)

Bank Reconciliation Statement 12.3

(iii) Out of the total cheques amounting to ` 50,000 deposited, cheques aggregating
` 15,000 were credited in March, cheques aggregating ` 20,000 were credited
in April, and the rest have not yet been collected.
(iv) Bank has debited ` 5,000 on account of interest on overdraft and ` 1,000 as
bank charges.
(v) Bank has credited ` 7,000 to the account being dividend on shares.
(vi) Bill Receivable of ` 10,000 (discounted with the bank in January) dishonoured
on 31st March (but not yet recorded in the Cash Book).

Solution: BANK RECONCILIATION STATEMENT as on 31st March, 2017
Particulars Amount Amount
Details (`) `
Overdraft Balance as per Cash Book (Cr.) 20,000
Less: Cheques issued but not yet presented for payment 70,000
Dividend collected and credited by Bank 7,000 77,000
57,000
Add: Cheques deposited but not yet collected 35,000
Interest debited by Bank not recorded in Cash Book 5,000
Bank charges debited by Bank not recorded in Cash Book 1,000
Bill Receivable discounted dishonoured by Bank not recorded in Cash Book 10,000 51,000
Balance as per Pass Book (Cr.) 6,000
The above solution can also be presented with two columns using ‘Plus’ and
‘Minus’ method.
BANK RECONCILIATION STATEMENT as on 31st March, 2017
Particulars Plus Minus
Items Items
` `
Overdraft as per Cash Book (Cr.) 20,000
Cheques drawn but not presented for payment till 31st March 70,000
Dividend collected and credited by bank 7,000
Cheques deposited but not collected till 31st March 35,000
Interest on overdraft and bank charges 6,000
Discounted bill receivable dishonoured 10,000
Balance as per Pass Book (Cr.) (` 77,000 – ` 71,000) 6,000
77,000 77,000
2. From the following particulars, prepare Bank Reconciliation Statement and
ascertain the balance as per Cash Book on 31st March, 2017 in the books of D.K.:
(i) Pass Book showed an overdraft of ` 15,000 on 31st March, 2017.
(ii) A cheque of ` 200 was deposited in the bank but not recorded in the Cash Book.
(iii) Cheques of ` 17,000 were issued but cheques amounting to ` 10,000 were
presented for payment up to 31st March, 2017.
(iv) Cheques of ` 10,000 were sent to the bank for collection. Out of these, cheques
of ` 2,000 and of ` 1,000 were credited respectively on 7th April and 9th
April, 2017 and remaining cheques were credited before 31st March, 2017.