Bank Reconciliation Statement Questions Gujranwala Board I. Com

Q.1      A trader has two Bank Accounts – A/c No. 1 & A/c No. 2. The following particulars relating to A/c No. 1 are available on 31^st March, 2010.

     i)        Pass book balance (overdrawn) Rs. 60,000.

    ii)        Cheque drawn prior to 31^st March but not presented as yet Rs. 16,000.

   iii)        Cheque paid into the bank on 31^st March, 2010 but not yet credited Rs. 28000.

   iv)        Interest debited by the bank but not entered in the cash book as yet Rs. 1600.

    v)        Transfer from A/c No. 2 to A/c No. 1 recorded by the bank on 31^st March, but not entered in the cash book Rs. 12000.

   vi)        Bank charges debited by the bank but not recorded in the cash book as yet Rs. 40.

REQUIRED:  Prepare a Bank Reconciliation Statement for account No. 1 as on 31^st March, 2010.

(ANNUAL 2011 (HELD IN JUNE 2011)

Q.2      From the following particulars prepare a Bank Reconciliation Statement of Mr. Hamza as on 31^st December, 2009:

     i)        Bank overdraft as per Bank Statement Rs. 4700.

    ii)        Cheques issued prior to 31^st December amounted to Rs. 1800 of which cheques of Rs. 1050 have so far been presented to the bank.

   iii)        Interest on overdraft for six months ending on 31^st December Rs. 235 debited in the Bank Statement.

   iv)        Cheques paid into Bank but not cleared and credited by the Bank were Rs. 3250.

    v)        Bank charges debited in the Bank Statement amounted to Rs. 65.

   vi)        Interest and dividends on investments, etc. collected and credited by the bank in the Bank Statement amounted Rs. 350.

 vii)        A cheque for Rs. 220 received from a customer and entered in the bank column of the Cash Book was omitted to be paid into the bank.

viii)        A customer has directly paid Rs. 350 to our banker in the settlement of his account.

(ANNUAL 2010 (HELD IN JUNE 2010)

Q.3      On 31^st March, 2006, the Book of Mr. Hamid shows Rs. 66912 as bank balance. But it does not agree with the balance as shown by the pass book. On comparison you find the following discrepancies.

       i)        The payment side of cash book was under cast by Rs. 60.

      ii)        A cheque issued for Rs. 1048 on 25^th March, was recorded in the cash column of the cash book.

    iii)        A cheque of Rs. 1200 deposited was recorded in the cash column of the cash book.

    iv)        On 20^th March, the debit balance of Rs. 12208 as on the previous day was brought forward as credit balance.

      v)        Of the total cheques amounting to Rs. 92112 drawn in the last week of March, 2006, cheques totaling Rs. 62520 encashed in March.

    vi)        Dividends of Rs. 2000 collected by the bank were not entered in the Cash Book.

   vii)        Trade subscription of Rs. 800 paid by the bank was not recorded in the Cash Book.

  viii)        One outgoing cheque for Rs. 2800 was recorded twice in the Cash Book.

REQUIRED:  Prepare a Bank Reconciliation Statement with the help of revised cash book as at 31^st March, 2006.

(ANNUAL 2009 (HELD IN JUNE 2009)