Page 260 - DMGT104_FINANCIAL_ACCOUNTING

Financial Accounting

Notes The following are the reasons for such a difference:
( )
(i) Cheques deposited but not yet credited by the bank 75,450
(ii) Cheques issued but not yet presented 80,760

(iii) Bank charges not yet recorded in the cash book 1,135
(iv) Cheques received by the bank directly 1,35,200
(v) Insurance premium paid by the bank as per standing instructions not
yet intimated 15,400
Find out the balance as per the bank statement.
Bank Reconciliation Statement
as on 31st March, 2004

Particulars Amount Amount
( ) ( )
Bank balance as per the cash book 1,54,300
Add:
Cheques issued but not yet presented 80,760
Cheques received by the bank directly not recorded in the cash
book 1,35,200
2,15,960
3,70,260
Deduct.
Cheques deposited but not yet credited 75,450
Bank charges not yet recorded in the cash book 1,135
Insurance premium paid by the bank directly as per standing
instructions 15,400
91,985
Balance as per the pass book 278,275

Illustration 2: Both the balances as per the cash book and the bank statement are negative.

Ashok Ltd.’s cash book showed a bank overdraft of 76,240 as on 30 June, 2004. The bank
th
statement as on that date also showed an overdraft but the figure is different. The following are
the causes:
( )
(i) Cheques deposited but not yet collected 1,02,500
(ii) Cheques issued but not yet presented for payment 76,200

(iii) A cheque of 10,500 deposited on 25th May 2004 was dishonoured
on 29th June 2004 but not intimated by bank till 30th June, 2004
(iv) Bank charges not recorded in the cash book 2,760

(v) Interest on overdraft not intimated 1,250

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