Bank Reconciliation Examples And Solutions For 1st Year Students

Monday, December 16, 2019

bank reconciliation examples and solutions for 1st-year students
First of all, i will tell you how to draw bank reconciliation statement
sub sey pehley main column bana sikhao ga yeh bs formate hai

M/S_______________

Bank Reconciliation Statement

FOR THE MONTH OF ___________

Particulars	Cash Book (bank column)	Pass Book/ bank statement

bankstatement ko do naam hai aik passbook aur dosra bank statement

Particular ki jaga description bhi kuch teacher likhwatey hai

Bank Reconciliation Examples And Solutions For 1st Year Students

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an easy method to solve bank reconciliation statement

Bank Reconciliation Statement Question 01

A comparison of cash book and bank statement of Haroon Sons for the month of December 31, 1988 revealed the following:

(a) Balance as per Bank Statement (31.12.88) Rs.8,470.

(b) Balance as per Cash Book (31.12.88) Rs.6,000.

(c)Cheques issued but not presented for payment Rs.4,222.

(d) Amount deposited on 31.12.88 not shown in bank statement Rs.3,837.

(e) Cheque directly deposited by a customer in firm’s bank account was not recorded in

cash book Rs.2,000.

(f) Collection charge Rs.5 debited by bank but not recorded in cash book.

(g) The bank credited firm’s account for profit which was not recorded in cash book Rs.90.

REQUIRED

(1) Prepare a Bank Reconciliation Statement as on December 31, 1989.

(2) Prepare necessary adjusting entries in the General Journal of Haroon Sons

HAROON SONS

Bank Reconciliation Statement

FOR THE MONTH OF DECEMBER 1988

Particulars	Cash Book (bank column)	Pass Book/ bank statement
Unadjusted balance less cheque not presented for payment Add deposited on 31.12.88 not shown in bank statement Add Cheque direct deposited by a customer Less Collection charges Add Profit given by bank	6,000 6,000 6000 +2000 8000 (05) 7995 +90 8,085.00	8,470 (4,222) 4248 +3837 8085 8085 8085 8,085.00

Second method

HAROON SONS

Bank Reconciliation Statement

FOR THE MONTH OF DECEMBER 1988

Particulars	Cash Book (bank column)	Pass Book/ bank statement
Unadjusted balance less cheque not presented for payment add deposited but not shown in bank statement Add Cheque direct deposited by a customer Less Collection charges Add Profit given by bank	6,000 +2,000 (5 ) +90 8,085.00	8,470 (4,222) +3837 8,085.00

bank reconciliation journal entries

HAROON SONS

GENERAL JOURNAL

FOR THE MONTH OF DECEMBER 1988

Date	Particular	P/R	Debit	Credit
01	Bank Account receivable To record Cheque direct deposited by a customer		2,000	2,000

Date	Particular	P/R	Debit	Credit
01	Collection charges Bank To record Collection charges		05	05

Date	Particular	P/R	Debit	Credit
03	Bank Bank Profit To record Profit given by bank		90	90

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ILLUSTRATION # 2:1990 Regular & Private – BIEK

(Bank Reconciliation Statement with Errors & Dishonoured)

A comparison of cash book and bank statement of Hasan Company for the month of April 1990 revealed the following:

1. Balance per cash book Rs.6,180.

2. Balance per bank statement Rs.5,665.

3. A cheque for Rs.3,600 deposited into the bank was not yet cleared by the bank.

4. A cheque for Rs.980 deposited into the bank and cleared by the bank, was recorded in the bank statement as Rs.890.

5. A cheque for Rs.400 received from Akbar Brothers and deposited into the bank was returned dishonoured by the bank.

6. A cheque for Rs.3,500 issued to Aftab Sports has not so far been presented to the bank for payment.

7. The bank statement showed a debit of Rs.135 for Zakat deduction and a credit of Rs.210 for bank profit.

REQUIRED

a) Bank Reconciliation Statement as on April 30, 1990.

b) Entries in the General Journal to adjust the cash records of the company.

Hasan Company

Bank Reconciliation Statement

FOR THE MONTH OF APRIL 1990

Particulars	Cash Book (bank column)	Pass Book/ bank statement
Unadjusted balance add add uncleared cheque Add Error in bank statement Less dishonored cheque Less Un Present cheque Less Zakat Charges Add Profit given by bank	6,180 6,180 6,180 (400) 5780 5780 (135) 5645 +210 5855	5,665 +3,600 9265 +90 9355 9355 (3,500) 5855 5855 5855

Date	Particular	P/R	Debit	Credit
01	Account receivable Bank To record Cheque dishonored		400	400

Date	Particular	P/R	Debit	Credit
01	Zakat Charges Bank To record Zakat charges		135	135

Date	Particular	P/R	Debit	Credit
03	Bank Bank Profit To record Profit given by bank		210	210

Bs Video Three

Bank Reconciliation Statement with Overdraft Balances

Comparison of cash book and bank statement of Mr. Tariq Jamil, a sole trader, reveals the

following for the month of April 2014:

1) Balance per cash book (Debit balance) Rs.17,000 and as per bank statement (Debit balance) Rs.23,000.

2) Direct deposit by a customer Rs.5,000.

3) A cheque of Rs.18,000 issued in settlement of an account was recorded in the cash book as Rs.13,000.

4) Uncleared cheques Rs.37,000.

5) Unpresented cheques Rs.7,000.

6) Bank made direct payment for an outstanding bill of business Rs.10,000.

REQUIRED

(a) Prepare bank reconciliation statement as on April 30, 2014.

(b) Record necessary entries in General Journal of the books of Mr. Tariq Jamil at April 30, 2014.

XI Accounting

Heads of Accounts

Kinds of Assets

Kind of Liabilities

bank reconciliation statement format

Mr. Tariq Jamil

Bank Reconciliation Statement

FOR THE MONTH OF APRIL 2014

Particulars	Cash Book (bank column)	Pass Book/ bank statement
Unadjusted balance on 30 April 2014 Add: Direct deposit Less: Accounts payable – Error (3) Add: Uncleared cheques (4) Less: Unpresented cheques (5) Less: Bills payable (6)	17000 +5,000 22000 (5,000) 17000 17000 17000 (10,000) 7000	(23,000) (23,000) (23,000) 37000 14000 (7,000) 7000 7000

Date	Particular	P/R	Debit	Credit
01	Bank Account receivable To record Cheque direct deposited by a customer		5,000	5,000

Date	Particular	P/R	Debit	Credit
01	Account receivable bank To record Error in cash book		5,000	5,000

Date	Particular	P/R	Debit	Credit
01	Bill payable Bank To record payment of bill payable		10,000	10,000

bank reconciliation statement problems and solutions

On comparison of Cash Book (Bank Column) and the bank Statement of Aslam Traders for the month of July 2009 revealed the following:

1) Balance as per Bank Statement on July 31, 2009 was Rs.57,000.

2) Balance as per Cash Book on July 31, 2009 was Rs.43,000.

3) Cheques issued during July 2009 but not presented Rs.15,000.

4) Bank charges not entered in Cash Book Rs.500.

5) Locker rent debited by bank not recorded in Cash Book Rs.3,500.

6) Profit credited Rs.1,500 and tax debited Rs.150 by bank not recorded in Cash Book.

7) Cheques deposited on July 30, 2009 not shown in Bank Statement Rs.5,000.

8) Direct deposit by a customer Rs.6,650.

REQUIRED

Prepare Bank Reconciliation Statement as on July 31, 2009

bank reconciliation examples and solutions

Aslam Traders

Bank Reconciliation Statement

For The Month Of July 2009

Particulars	Cash Book (bank column)	Pass Book/ bank statement
Unadjusted balance on 30 April 2014 Less: Unpresented cheques Less: Bank charges Less: Locker charges Add bank profit Less Tax Debit by Bank Add Late deposit Add direct deposit by customer	43000 43000 (500) 42500 (3,500) 39000 +1,500 40500 (150) 40350 40350 +6650 47,000	57,000 (15,000) 42000 42000 42000 42000 42000 +5000 47000 47,000

Part four

XI Accounting Rule 17 Sold On Credit or Credit Sales

XI Accounting Rule 18 Sold on credit & Cash

bank reconciliation journal entries

Date	Particular	P/R	Debit	Credit
01	Bank Charges Bank To record bank charges		500	500

Date	Particular	P/R	Debit	Credit
02	Locker Charges Bank To record Locker charges		3500	3500

Date	Particular	P/R	Debit	Credit
03	Bank Bank Profit To record Profit given by bank		1500	1500

Date	Particular	P/R	Debit	Credit
04	Tax Expense Bank To record tax debit by bank		150	150

Date	Particular	P/R	Debit	Credit
05	Bank Account receivable To record deposit by customer		6650	6650

Part five

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