AccountancySEE 2082
The following information is available from P and P Company as on 30^th Shrawan: i. The cash book showed balance of Rs.80,000 ii. Cheque issued but not presented for payment Rs.30,000 iii. Service…
5The following information is available from P and P Company as on Shrawan: i. The cash book showed balance of Rs.80,000 ii. Cheque issued but not presented for payment Rs.30,000 iii. Service charge of Rs.1,000 charged by bank but not entered in cash book iv. Cheque of Rs.10,000 deposited into bank but not collected by the bank v. Bank provided dividend Rs.5,000 but not recorded in cash book
Required: Bank reconciliation statement [5]
Answer
Bank Reconciliation Statement
As on 30th Shrawan 2082
| Particulars | Amount (Rs.) |
|---|---|
| Balance as per Cash Book | 80,000 |
| Add: Cheque issued but not presented | 30,000 |
| Add: Service charge not entered | 1,000 |
| Add: Cheque deposited but not collected | 10,000 |
| Total | 121,000 |
| Less: Dividend not recorded | 5,000 |
| Balance as per Bank Statement | 116,000 |
Working Notes:
Cheque issued but not presented (Rs. 30,000)
- These cheques are deducted from the cash book but not yet presented to the bank. Hence, they must be added back to the cash book balance to match the bank statement.
Service charge of Rs. 1,000
- This expense was charged by the bank but not yet recorded in the cash book. It reduces the bank balance, so it must be added to the cash book balance to reconcile.
Cheque deposited but not collected (Rs. 10,000)
- The cheque was deposited into the bank but not yet cleared. It increases the cash book balance but not yet reflected in the bank statement. Thus, it must be added to the cash book balance.
Dividend received (Rs. 5,000)
- The dividend was credited by the bank but not yet recorded in the cash book. It increases the bank balance, so it must be deducted from the cash book balance to reconcile.
Final Answer: The balance as per Bank Statement is Rs. 116,000.
Discussion
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