Bank Reconciliation practice problems pdf

bank reconciliation practice problems pdf

Debit Balance as per Cash Book-

1.Prepare Bank Reconciliation Statement for the month of March, 31 2020.

(1)  Debit Balance as per Cash Book is Rs. 40,500 on   31st March 2020.

(2)   Cheque deposited but not yet collected Rs. 92,000.

(3)   Cheque issued but not yet presented for payment of   Rs. 52,800.

(4)   Bank Charges of Rs. 1,500 charged by the bank.

(5)   A customer directly deposited Rs. 45,200 into the   Bank.

Solution-

Bank Reconciliation practice problems pdf

Credit Balance as per Pass Book-

2.Prepare Bank Reconciliations Statement for the month of March, 31 2020.

(1)  Credit Balance as per Pass Book is Rs. 45,000 on   31st March 2020.

(2)   Cheque deposited but not yet collected Rs. 92,000.

(3)   Cheque issued but not yet presented for payment of   Rs. 52,800.

(4)   Bank Charges of Rs. 1,500 charged by the bank.

(5)   A customer directly deposited Rs. 45,200 into the  Bank.

Solution-

Bank Reconciliation practice problems pdf

Credit Balance(Overdraft) as per Cash Book-

3.Prepare Bank Reconciliations Statement for the month of March, 31 2020.

(1)  Credit Balance(Overdraft) as per Cash Book is Rs.   1,45,000 on 31st March 2020.

(2)   Cheque deposited but not yet collected Rs. 72,000.

(3)   Cheque issued but not yet presented for payment of   Rs. 52,800.

(4)   Bank Charges of Rs. 2,500 charged by the bank.

(5)   A customer directly deposited Rs. 45,000 into the   Bank.

(6)  Interest on bank overdraft charged by bank Rs. 10,000.

Solution-

Bank Reconciliation practice problems pdf

Debit  Balance/Overdraft as per Pass Book-

4.Prepare Bank Reconciliations Statement for the month of March, 31 2020.

(1)  Debit  Balance/Overdraft as per Pass Book is Rs. 1,31,700 on   31st March 2020.

(2)   Cheque deposited but not yet collected Rs. 72,000.

(3)   Cheque issued but not yet presented for payment of   Rs. 52,800.

(4)   Bank Charges of Rs. 1,500 charged by the bank.

(5)   A customer directly deposited Rs. 45,000 into the  Bank.

(6)  Interest on bank overdraft charged by bank Rs. 10,000.

Solution-

Also read : Bank Reconciliation Statement

Bank Reconciliation practice problems pdf

5. From the following particulars of Rachit and Co. prepare Bank Reconciliation Statement on March 31, 2021
(1) Debit Balance as per Cashbook 46,500
(2)Bank charges charged by bank  1,600
(3) Insurance premium paid by the bank 1,800
(4) Cheques deposited but not yet credited 15,500
(5) Cheques issued but not present for payment 16,000
(6) Wrong credit to firm account by the bank 2,000

Answer: Credit balance as per Pass Book 45,600

6. From the following particulars of Mohit and Co. prepare Bank Reconciliation Statement on March 31, 2021
(1) Credit Balance as per Passbook 86,500
(2)Bank charges charged by bank  5,000
(3) Insurance premium paid by the bank 5,800
(4) Cheques deposited but not yet credited 25,500
(5) Cheques issued but not present for payment 26,000
(6) Wrong credit to firm account by the bank 12,000

(7) Direct deposit by a customer into the bank 30,000
Answer: Debit balance as per CashBook 54,800

7. From the following particulars of Sohna and Co. prepare Bank Reconciliation Statement on March 31,2021
(1) Debit Balance/overdraft  as per Passbook 56,500
(2)Bank charges charged by bank  5,000
(3) Insurance premium paid by the bank 5,800
(4) Cheques deposited but not yet credited 65,500
(5) Cheques issued but not present for payment 36,000
(6) Wrong credit to firm account by the bank 12,000

(7) Direct deposit by a customer in to the bank 80,000

(8) Interest on bank overdraft charged by bank Rs. 12,000.
Answer: Overdraft as per CashBook 95,200

8. From the following particulars of Sohna and Co. prepare Bank Reconciliation Statement on March 31,2021
(1) Credit Balance/overdraft  as per Cash book 56,500.
(2)Bank charges charged by bank  15,000.
(3) Insurance premium paid by the bank 15,000.
(4) Cheques deposited but not yet credited 60,500.
(5) Cheques issued but not present for payment 56,000.
(6) Wrong credit to firm account by the bank 12,000.

(7) Direct deposit by a customer in to the bank 60,000.

(8) Interest on bank overdraft charged by bank Rs. 8,000.

(9) Direct payment by the bank not entered in cash book 40,000.

9. From the following particulars of Jemes and Co. prepare Bank Reconciliation Statement on March 31,2021
(1) Debit Balance  as per Cash book 56,500.
(2)Bank charges charged by bank  15,000.
(3) Insurance premium paid by the bank 15,000.
(4) Cheques deposited but not yet credited 60,500.
(5) Cheques issued but not present for payment 56,000.
(6) Wrong credit to firm account by the bank 12,000.

(7) Direct deposit by a customer in to the bank 60,000.

(8) Interest credited by bank Rs. 3,000 but not recorded in cash book.

(9) Direct payment by the bank not entered in cash book 40,000.

(10) Dividend collected by bank 15,000, but not entered in cash book.

10. Prepare Bank Reconciliation statement as on 31st July 2021
(1) Dr. Balance as per Cash Book is Rs. 50,000 as on 31st Jul 2021.
(2) Cheqes for Rs. 15,000 were deposited into the Bank in the month of July but only Cheqes for Rs. 1000 were credited by bank till 31st July 2021.
(3) Cheqes issued for Rs. 33,000 in July, out of which a cheque for Rs. 13,800 was presented for payment on 3rd August, 2021.
(4) Bank charged Rs. 550 as Bank charges and credited interest of Rs. 800.
(5) A coustomer directly deposited Rs. 4,500 in firms’s bank A/C.
(6) Bank paid the insurance Premium of Rs. 1200 as per standing instruction on 25.7.2021

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“Bank Reconciliation Statement is a statement, prepared on a particular date to reconcile the difference between the bank Balance shown by the Cash Book(bank column) and the bank Balance shown by Pass Book”.

Important Points

(1) If the Starting point is Cash Book Balance then the ending point will be Pass Book Balance.

(2) If the starting point is Pass Book Balance then the ending point will be the Balance as per Cash Book.

(3) Debit Balance as per Cash Book or Credit Balance as per Pass Book, means that the firm has that much amount of deposit at the bank also called favorable balance  write the amount under plus items.

(4) Credit Balance as per Cash Book or Debit Balance as per Pass Book, means that this much amount has seen withdrawn in excess of deposit  also called overdraft or unfavorable balance write the amount under minus items.

(5)  If Bank Reconciliation Statement is started with Balance as per Cash Book then ending point is Balance as per Pass Book and Vice-Versa.

(6) Debit balance of Cash Book means favorable balance or (+) Plus Balance

(7) Credit balance of cash Book means unfavorable balance or(-)Minus Balance.

(8) Credit balance of Pass Book means favorable balance or (+) Plus Balance.

(9) Debit balance of Pass Book means unfavorable balance or(-) Minus Balance.