Bank Reconciliation Statement Problems and Solutions

Bank Reconciliation Statement Problems and Solutions

Problem # 1: 

From the following information, extract a bank reconciliation statement as on 31^st

Decembar, 2008

            1.         The balance as per Cash book on 31-12.2008 Rs.12000/-

            2.         Cheques issued but not presented in the bank Rs.1600/-

3.         Cheques paid into bank but not cleared before 31^st Dec,08 Rs.2000/-

            4.         Interest on investment Rs.300/-

            5.         Bank Charges made by the bank Rs.30/-

Solution: 

Problem # 2:

Prepare a bank reconciliation statement from the following on 28^th Feb,2009. Cash book showed a bank balance Rs.11000/-

1. A cheque issued but not presented for payment Rs.900/-

2. A post-dated cgeqye if RS.1000 has bee debited  in the bank column of the cash book but it wqas not possible to present.

3. Three cheques of Rs.1500 sent for collection  but not cleared so far by the bank

4. A cheque for rs.500 deposited in the bank has been dishonoured.

5. Trade subscription directly paid by the bank Rs.200

6.  The bank debit for Rs.100 in respect of bank charges and credit Rs.200 for dividend collected by the bank.

 Solution: 

Problem # 3:
From the following particulars, ascertain the bank balance as per Pass Book as on 31^st March, 2001:

1	The Bank balance as per Cash Book on that date was Rs.5,750.
2	Cheques issued but not presented in the bank Rs.875.
3	Cheques paid into bank, but not cleared before 31st March amounting to Rs.1,075.
4	Interest on investment Rs.275.
5	Cheque paid on but not entered in cash book Rs.150.
6	Bank Charges debited in the pass book Rs.25.

Solution: 

Problem # 4:

Prepare a Bank Reconciliation Statement of Mr. Raheel as on 31^st Aug. 2002 from the details given below:

1	Balance as per pass book (Credit) Rs.4,000
2	A cheque amounting to Rs.500 issued in Aug. but was not presented in the same month.
3	Cheques for Rs.400 deposited into the bank in Aug. but dishonoured.
4	Cheques for Rs.1,500 were deposited into bank during the month but a cheque for Rs.300 credited by in Sep.
5	Interest of Rs.30 credited by the bank in the Pass Book which is not recorded in the cash book.
6	Insurance premium of Rs.45 was directly paid by the bank but was not recorded in the cash book.

Solution: 

Problem # 5:

From the following particular of Sultan & Sons, you are required to prepare a bank reconciliation statement on 31^st July, 2003 indicating balance of Pass Book.

1	Balance as per Cash Book Rs.2,800.
2	Cheques paid into bank but not credited Rs.590.
3	Cheques issued but not presented upto 31st July Rs.1,075.
4	The pass book shows a credit of Rs.50 for interest.
5	Debit of Rs.10 for bank charges appear twice in the pass book but not even once in cash book.
6	A customer Mr.Bilal deposited a cheque of Rs.50 directly into firm’s bank account but no entry was passed in cash book.
7	A cheque of Rs.50 deposited into bank but dishonored.
8	A cheque received from Zaki for Rs.345 was entered twice in cash book but the pass book showed only one credit.

Solution: 

Problem # 6:

Prepare a bank reconciliation statement from the following on 31^st March 2004. A merchant’s Cash Book showed a bank balance of Rs.1,050 but due to the following reasons the pass book showed a difference:

1	A cheque of Rs.54 issued to Sabeen has not been presented for payment.
2	A post-dated cheque of Rs.10 has been debited in the bank column of the cash book but under the circumstances it was not possible to present it.
3	Four cheques of Rs.120 sent to the bank have not been collected so far.
4	A cheque for Rs.40 deposited in the bank has been dishonoured.
5	Bank paid Rs.5 as insurance premium on behalf of depositor.
6	There was a debit in the pass book of Rs.150 in respect of bank charges and credit of Rs.250 for interest on investment.

Solution: