Page 261 - DMGT104_FINANCIAL_ACCOUNTING

Unit 11: Bank Reconciliation Statement

Bank Reconciliation Statement Notes
as on 30th June, 2004
Particulars Amount Amount
( ) ( )
Bank overdraft as per the cash book 76,240
Add:
Cheques deposited but not yet collected by the bank 1,02,500
Cheque dishonoured by the bank not yet recorded 10,500
Bank charges not yet recorded 2,760
Interest on overdraft not yet intimated 1,250
1,17,010
1,93,250
Deduct:
Cheques issued but not yet presented for payment 76,200
Overdraft as per the bank statement 1,17,050

Illustration 3: The cash book showing a favourable balance and the bank statement showing an
overdraft.
The bank statement of Karan & Co. showed an overdraft of 56,740 as on 30th September, 2004.
The cash book, however, showed a positive balance of 45,520 as on the same date. The accountant
of Karan & Co. found that the difference in the balance was due to the following:
( )
(i) Cheques issued to supplier not yet presented 1,54,320

(ii) Cheques deposited in the bank not yet credited by the latter 2,06,200
(iii) A cheque received by the bank from a customer has been wrongly
credited by the bank in Andersen & Co. account 64,720

(iv) Dividend received by the bank not yet intimated 15,740
(v) Bank charges not yet recorded in the cash book 1,400

Bank Reconciliation Statement
as on 30th September, 2004

Particulars Amount Amount
( ) ( )
Overdraft as per the bank statement 56,740
Add:
Cheques issued to supplier not yet presented 1,54,320
Dividend received by the bank not yet intimated 15,740
1,70,060
2,26,800
Deduct:
Cheques deposited not yet credited by the bank 2,06,200

Cheque received from a customer wrongly credited by the Contd...
bank in Andersen & Co. A/c 64,720
Bank charges not yet recorded 1,400
2,72,320
LOVELY PROFESSIONAL UNIVERSITY 255
Bank balance (debit) as per the cash book 45,520