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CBSE Questions for Class 10 Elements Of Book Keeping And Accountancy Bank Reconciliation Statement Quiz 9 - MCQExams.com
CBSE
Class 10 Elements Of Book Keeping And Accountancy
Bank Reconciliation Statement
Quiz 9
Bank balance as per pass book (Cr.) Rs.
5
,
090
. A comparison of passbook and cash book revealed the following -
-The bank had directly collected dividend of Rs.
80
and interest Rs.
60
.
-As per standing instrcution bank had paid bills of Rs.
400
.
Balance as per cash book will be ________.
Report Question
0%
Rs.
5
,
630
0%
Rs.
5
,
350
0%
Rs.
4
,
550
0%
Rs.
4
,
830
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Bank balance as per pass book (Cr.)
5090
Less
Dividend collected directly
80
Less
Interest collected directly
60
Add
Bills paid as per standing instruction
400
Balance as per cash book (Dr.)
5350
If the bookkeeper recorded a bank deposit of Rupees 450, but the bank recorded the deposit at its correct amount of RupeesThe bank reconciliation will require a/an _________.
Report Question
0%
addition to book balance of cash
0%
deduction to book balance of cash
0%
addition to bank statement balance
0%
deduction to bank statement balance
Explanation
Bank has recorded the deposit amount which was actually paid by the business to the bank i.e
R
s
.540
.
However the bookkeeper has recorded the same at an amount lower than what was actually paid i.e
R
s
.450
.
Hence, to make it correct an addition is required to be done for the differential amount=
R
s
.540
-
R
s
.450
=
R
s
.90
in the bank reconciliation statement.
Bank balance as per cash book (Dr.) of NZ & Co. was Rs.
1
,
050
-Bank charges not recorded in cash book was Rs.
180
.
-Rs.
750
was directly paid by customer into bank was not recorded in cash book.
-Debit side of cash book was undercast by Rs.
100
-Cheque deposited for Rs.
700
was not credited in pass book.
-Out of cheques of Rs.
900
issued but not presented for payments.
If BRS is prepared after adjusting cash book, balance as per Adjusted Cash book should be Rs.________ and balance as pass book should be Rs.__________
Report Question
0%
Rs.
1
,
720
& Rs.
1
,
920
0%
Rs.
1
,
920
& Rs.
1
,
720
0%
Rs.
2
,
080
& Rs.
1
,
880
0%
Rs.
1
,
880
& Rs.
2
,
080
Explanation
The adjusted cash book balance is as follows :
Particulars
Amount in Rs.
Bank balance as per cash book (Dr.)
1050
Less
Bank charges not recorded in cash book
180
Add
Direct payment by customer into bank
750
Add
Undercasting of Debit side of cash book
100
Adjusted Bank balance as per cash book (Dr.)
1720
The reconciliation is as follows
Particulars
Amount in Rs.
Adjusted Bank balance as per cash book (Dr.)
1720
Less
Cheque deposited but not credited in pass book
700
Add
Cheque issued but not presented for payment
900
Bank balance as per pass book
1920
If the bookkeeper recorded a bank deposit of Rupees 450, but the bank recorded the deposit at its correct amount of RupeesThe bank reconciliation will require a/an ______________.
Report Question
0%
addition per book balance of cash
0%
deduction per book balance of cash
0%
addition per bank statement balance
0%
deduction per bank statement balance
Explanation
If the book keeper recorded a bank deposit of Rs. 450, but the bank recorded the deposit at its correct amount of Rs. 540, then the bank reconciliation will require an
addition per book balance of cash as the book keeper had recorded the deposit by Rs. 90 less i.e. increased the balance by Rs. 90 less. And if balance as per bank statement is given, Rs. 90 will be deducted to calculate the balance as per cash book.
Which of the following item must be recorded in the adjusted Cash Book in order to bring it in line with the entries in the Bank Statement?
Report Question
0%
Bank charges
0%
An error on the Bank Statement
0%
An uncredited deposit
0%
An unpresented cheque
Explanation
Any item which has already been recorded in the cash book can be adjusted to bring it in line with the balance as per pass book. From the given items, an uncredited deposit, when recorded earlier, would have increased the balance as per cash book. So now, it can be decreased by adjusting the cash book and bringing it in line with the balance as per pass book.
A company had entered in hire purchase agreement and had to pay Rs 1000 per month. Three payment were accounted for in the pass book but no entry was found in cash book. ldentify the correct adjustment in cash book.
Report Question
0%
Rs 1000 will be added to cash book balance.
0%
Rs 2000 will be deducted from cash book balance.
0%
Rs 3000 will be added to cash book balance.
0%
Rs 3000 will be subtracted from cash book balance.
Explanation
In the present case the payments made as per hire purchase agreement were accounted for in the pass book but not in the cash book due to which the pass book balance would be lower.
So, the proper adjustment would be to subtract
R
s
.
3000
from the cash book balance.
On
31
st March,
2012
the pass book of Z showed a credit balance of Rs.
2
,
16
,
000
. A comparison of pass book and cash book revealed the following:
-Cheques deposited but not cleared
1
,
08
,
150
by
31
st March .
-Cheques issued by Z but not
26
,
000
presented for payment before
1
st April,
2012
.
Balance as per cash book will be ___________.
Report Question
0%
Rs.
81
,
850
0%
Rs.
1
,
33
,
850
0%
Rs.
2
,
98
,
150
0%
Rs.
3
,
50
,
150
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Credit balance as per pass book
216000
Add
Cheque deposited but not cleared
108150
Less
Cheque issued but not presented for payment
26000
Debit balance as per cash book
298150
On
30
th September overdraft as per pass book of S LTd. was Rs.
32
,
400
. The bank had directly collected dividend of other companies Rs.
1
,
750
and interest Rs.
1
,
200
. As per standing instruction bank had paid bills of Rs.
2
,
454
,
. Cheque deposited for Rs.
8
,
929.60
was not credited in pass book. Balance as per cash book should be __________.
Report Question
0%
Overdraft of Rs.
23
,
966.40
0%
Overdraft of Rs.
46
,
733.60
0%
Overdraft of Rs.
40
,
833.60
0%
Overdraft of Rs.
18
,
066.40
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Overdraft as per pass book
32400
Add
Dividend directly collected by bank
1750
Add
Interest directly collected by bank
1200
Less
Bills paid by bank as per standing instruction
2454
Less
Cheque deposited but not credited in pass book
8929.60
Overdraft as per cash book
23966.4
On
30
th September overdraft as per cash book of Z Ltd. was Rs.
81
,
000
. The bank had directly collected dividend of other companies Rs.
4
,
375
and interest Rs.
3
,
000
. As per standing instruction bank had paid bills of Rs.
6
,
135
. Cheque deposited for Rs.
22
,
324
was not credited in pass book. With the help of above information balance as per pass book should be ____________.
Report Question
0%
overdraft of Rs.
59
,
916
0%
overdraft of Rs.
1
,
16
,
834
0%
overdraft of Rs.
1
,
02
,
084
0%
overdraft of Rs.
45
,
166
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Overdraft as per cash book
81000
Less
Dividend directly collected by bank
4375
Less
Interest directly collected by bank
3000
Add
Bills directly paid by bank as per standing instruction
6135
Add
Cheque deposited but not credited in cash book
22324
Overdraft as per pass book
102084
On
31
st December overdraft as per cash book - Rs.
16
,
200
. A comparison of pass book and cash book revelead the following:
-Cheques deposited for Rs.
700
was not credited in pass book.
-Out of cheques of Rs.
900
issued, only cheques amounting to Rs.
825
were presented for payments.
Overdraft as per pass book will be _____________.
Report Question
0%
Rs.
15
,
425
0%
Rs.
16
,
975
0%
Rs.
16
,
825
0%
Rs.
15
,
575
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs
Overdraft as per cash book as on 31 st December
16200
Add
Cheque deposited but not credited
700
Less
Cheque issued but not presented for payment
75
Overdraft as per pass book as on 31 st December
16825
On
31
st December overdraft as per pass book-Rs.
19
,
440
. A comparison of pass book and cash book revealed the following:
-Cheque deposited for Rs.
840
was not credited in pass book.
-Out of cheques of Rs.
1
,
080
issued, only cheques amounting to Rs.
990
were presented for payments.
Overdraft as per cash book will be __________.
Report Question
0%
Rs.
18
,
510
0%
Rs.
20
,
370
0%
Rs.
20
,
190
0%
Rs.
18
,
690
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Overdraft as per pass book
19440
Less
Cheque deposited but not credited in pass book
840
Add
Cheque issued but not presented for payment
90
Overdraft as per cash book
18690
On
31
st March
2012
, bank balance as per pass book (Cr.) Rs.
20
,
000
. A comparison of pass book and cash book revealed the following:
- Cheques deposited for Rs.
20
,
000
out of these cheques bank had credited cheques of Rs.
5
,
000
.
- Bank charges Rs.
100
was not entered in cash books.
Balance as per cash book will be _________ .
Report Question
0%
Rs.
40
,
100
0%
Rs.
35
,
100
0%
Rs.
(
100
)
0%
Rs.
4
,
900
Explanation
The reconciliation is as follows
Particulars
Amount in Rs.
Balance as per pass book (Cr.)
20000
Add
Cheques deposited but not credited by bank
15000
Add
Bank charges not entered in cash book
100
Balance as per cash book (Dr.)
35100
On
31
st December overdraft as per cash book- Rs.
16
,
200
. A comparison of pass book and cash book revealed the following:
- Cheque deposited for Rs.
700
was not credited in pass book.
- Out of cheques of Rs.
900
issued only cheques amounting to Rs.
825
were presented for payments.
Overdraft as per pass book will be _______ .
Report Question
0%
Rs.
15
,
425
0%
Rs.
16
,
975
0%
Rs.
16
,
825
0%
Rs.
15
,
575
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Overdraft as per cash book
16200
Add
Cheque deposited but not credited in pass book
700
Less
Cheques issued but not presented for payment
75
Overdraft as per pass book
16825
Bank balance as per pass book (Cr.) Rs.
76
,
350
. A comparison of pass book and cash book revealed the following:
-Bank charges Rs.
600
was not entered in cash books.
- Cheques amounting to Rs.
750
has been dishonoured but not recorded in cash book.
Balance as per cash book will be _________ .
Report Question
0%
Rs.
75
,
000
0%
Rs.
77
,
700
0%
Rs.
76
,
500
0%
Rs.
76
,
200
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Balance as per pass book
76350
Add
Bank charges not entered in cash book
600
Add
Cheque dishonoured but not recorded in cash book
750
Balance as per cash book
77700
The pass book of N Ltd. showed credit balance of Rs.
9
,
000
. A comparison of pass book and cash book revealed the following:
- Cheques amounting to Rs.
375
has been dishonoured but not recorded in cash book.
- Total of credit column of cash book was under cast by Rs.
712.50
.
Balance as per cash book will be __________ .
Report Question
0%
Rs.
9337.50
0%
Rs.
8
,
662.50
0%
Rs.
10
,
087.50
0%
Rs.
7
,
912.50
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Balance as per pass book (Cr.)
9000
Add
Cheques dishonoured but not recorded in cash book
375
Add
Total of credit column of cash book being under cast
712.5
Balance as per cash book (Dr.)
10087.5
On
31
st March
2012
bank balance as per cash book (Dr.) Rs.
10
,
000
. A comparison of pass book and cash book revealed the following:
- Cheques deposited for Rs.
10
,
000
out of these cheques bank had credited cheques of Rs.
2
,
500
.
- Bank charges Rs.
50
was not entered in cash books.
Balance as per pass book will be ________ .
Report Question
0%
Rs.
20
,
050
0%
Rs.
17
,
550
0%
Rs.
(
50
)
0%
Rs.
2
,
450
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Balance as per cash book (Dr.)
10000
Less
Cheque deposited but not credited
7500
Less
Bank charges not entered in cash book
50
Balance as per pass book (Cr.)
2450
From the following information calculate balance as cash book.
Balance as per pass book (Cr.)
Cash deposited in bank for Rs.
100
entered in cash book as
Direct deposit by customer in bank account not entered in cash book
Bank charges not recorded in cash book
Standing order payment
1
,
520
72
1
,
200
16
24
Report Question
0%
Rs.
352
0%
Rs.
384
0%
Rs.
2
,
732
0%
Rs.
208
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Balance as per pass book (Cr.)
1520
Less
Cash deposited and entered less in the cash book
28
Add
Direct transfer to bank account not entered in cash book
1200
Add
Bank charges not recorded in cash book
16
Add
Standing order payment
24
Balance as per cash book (Dr.)
2732
Bank balance as per pass book (Cr.) Rs.
40
,
000
. A comparison of pass book and cash book revealed the following:
- Rs.
2
,
360
was wrongly debited by bank.
- Transfer by bank to another account with no advice Rs.
10
,
000
.
Balance as per cash book will be _______ .
Report Question
0%
Rs.
52
,
360
0%
Rs.
27
,
640
0%
Rs.
32
,
360
0%
Rs.
47
,
640
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Balance as per pass book (Cr.)
40000
Add
Wrong debit by bank
2360
Add
transfer to another account without any advice
10000
Balance as per cash book (Dr.)
52360
On
31
st December overdraft as per pass book Rs.
19
,
440
. A comparison of pass book and cash book revealed the following:
- Cheque deposited for Rs.
840
was not credited in pass book.
- Out of cheques of Rs.
1
,
080
issued only cheques amounting to Rs.
990
were presented for payments.
Overdraft as per cash book will be __________ .
Report Question
0%
Rs.
18
,
510
0%
Rs.
20
,
370
0%
Rs.
20
,
190
0%
Rs.
18
,
690
Explanation
the reconciliation is as follows :
Particulars
Amount in Rs.
Overdraft as per pass book
19440
Less
Cheque deposited but not credited in pass book
840
Add
Cheque issued but not presented for payment
90
Overdraft as per cash book
18690
Bank collected dividend of Rs.
25
,
000
on behalf of customer which was not recorded in cash book.
In respect the given transaction which of the following treatment is correct for preparation of bank reconciliation statement?
(I) If BRS is prepared without adjusting cash book and the balance as per cash book is starting point then Rs.
25
,
000
will be subtracted.
(II) If BRS is prepared with adjusting cash book then Rs.
25
,
000
will be debited to the adjusted cash book.
(III) If BRS is prepared without adjusting cash book and the balance as per cash book is starting point then Rs.
25
,
000
will be added.
(IV) If BRS is prepared with adjusting cash book then Rs.
25
,
000
will be credited to the adjusted cash book.
The correct answer is?
Report Question
0%
(I) only is correct
0%
(II) only is correct
0%
(I) & (IV) are correct
0%
(II) & (III) is correct
Explanation
When the bank collected dividend of Rs. 25000 on behalf of the customer which was not recorded in the cash book, the passbook balance increase as the passbook was credited by the amount of dividend received. So now the balance as per pass book is more than the balance as per cash book. In this case, while preparing bank reconciliation statement, we have the following two options:
1. If the cash book balance is adjusted, it means that the dividend has to be recorded in the cash book by debiting the cash book by Rs. 25000 as cash book is debited when cash comes in and credited when cash goes out.
2. If the cash book is unadjusted, then in order to arrive at the balance as per pass book while reconciling, we will have to add Rs. 25000.
Thus (II) and (III) is correct.
On
31
st December bank balance as per cash book (Dr.) Rs.
25
,
450
. A comparison of pass book and cash book revealed the following:
- Cheque deposited for Rs.
500
was not credited in pass book.
- Out of cheques of Rs.
5
,
000
issued only cheques amounting to Rs.
3
,
750
were presented for payments.
Balance as per pass book will be___________ .
Report Question
0%
Rs.
27
,
200
0%
Rs.
23
,
700
0%
Rs.
24
,
700
0%
Rs.
26
,
200
Explanation
The reconciliation is as follows :
Particulars
Amount in Rs.
Bank balance as per cash book (Dr.)
25450
Less
Cheque deposited but not credited in pass book
500
Add
Cheque drawn but not presented for payment
1250
Balance as per pass book (Cr.)
26200
Bank balance as per cash book
(
D
r
.
)
R
s
.25
,
450
. A comparison of passbook and cashbook revealed the following:
Bank charges
R
s
.200
was not entered in cash book.
Cheques amounting to
R
s
.250
has been dishonoured but not recorded in cash book.
Balance as per pass book will be _________.
Report Question
0%
R
s
.25
,
000
0%
R
s
.25
,
900
0%
R
s
.25
,
500
0%
R
s
.25
,
400
Explanation
Particulars Rs.
Balance as per cash book (Dr.)
25450
Less: Bank charges not entered in cash book
(
200
)
Less: Cheques dishonored but not recorded in cash book
(
250
)
--------------------
Balance as per pass book (Cr.)
25000
Bank charges amounting to
R
s
.5
,
000
was not entered in the cash book. Identify the correct adjustment in cash book ___________.
Report Question
0%
bank charges will be debited in cash book
0%
bank charges will be added to cash book balance
0%
bank charges will be credited in cash book
0%
bank charges need no adjustment in cash book
Explanation
Bank charges are first reflected in the bank pass book and only then the adjustments can be made in the cash book of the business. Since it is an outflow, it is shall be debited in the cash book i.e it shall be deducted from the available balance.
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