Bank Reconciliation Statement
Commerce ⇒ Accountancy
Bank Reconciliation Statement starts at 11 and continues till grade 12.
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Describe the steps involved in preparing a Bank Reconciliation Statement.
Explain the difference between 'cheques issued but not presented' and 'cheques deposited but not credited'.
Explain the effect of 'cheques deposited but dishonoured' on the balances of cash book and pass book.
Explain the effect of 'direct deposit by customer' on the balances of cash book and pass book.
A business has a cash book balance of ₹15,000. Cheques of ₹5,000 issued have not been presented, and cheques of ₹3,000 deposited have not been credited. What is the balance as per pass book?
A business has a cash book balance of ₹8,000. Cheques of ₹2,000 issued have not been presented, and bank charges of ₹500 are not yet recorded in the cash book. What is the balance as per pass book?
A company’s cash book shows a balance of ₹25,000. Cheques of ₹3,000 issued have not been presented, and cheques of ₹2,000 deposited have not been credited. What is the balance as per pass book?
A company’s pass book shows an overdraft of ₹5,000. Cheques issued but not presented amount to ₹2,000, and cheques deposited but not credited amount to ₹1,000. What is the overdraft as per cash book?
Which of the following is a reason for preparing a Bank Reconciliation Statement? (1) To detect errors, (2) To calculate profit, (3) To record cash sales, (4) To prepare trial balance
Which of the following is an example of a timing difference? (1) Cheque issued but not presented, (2) Error in cash book, (3) Wrong total in pass book, (4) Omission of entry in cash book
Which of the following is deducted from the cash book balance while preparing a Bank Reconciliation Statement? (1) Cheques issued but not presented, (2) Cheques deposited but not credited, (3) Bank charges debited by bank, (4) Interest credited by bank
Which of the following is NOT a cause of difference between cash book and pass book balances? (1) Cheques issued but not presented, (2) Cheques deposited but not credited, (3) Cash sales, (4) Direct deposit by customer
Fill in the blank: Cheques issued but not yet presented for payment will cause the balance as per cash book to be _______ than the balance as per pass book.
Fill in the blank: If a cheque of ₹2,000 issued is recorded twice in the cash book, the cash book balance will be _______ by ₹2,000.
Fill in the blank: If the bank has debited bank charges of ₹500 not yet recorded in the cash book, the balance as per cash book will be _______ than the balance as per pass book.
Fill in the blank: If the bank wrongly credits ₹1,000 to your account, the balance as per pass book will be _______ than the balance as per cash book.
State whether the following statement is true or false: Errors committed by the bank are also a cause for difference in balances.
State whether the following statement is true or false: Overdraft as per pass book means the account holder has withdrawn more than the balance available.
True or False: Bank Reconciliation Statement can be prepared with either cash book balance or pass book balance as the starting point.
True or False: Bank Reconciliation Statement is prepared only when there is an overdraft balance.
