MCQ Questions for Class 10 Elements Of Book Keeping And Accountancy Bank Reconciliation Statement Quiz 8

When balance as per Pass Book is the starting point, Insurance Premium paid by bank is _____________.

0%
Added
0%
Subtracted
0%
Not required to be adjusted
0%
Neither of these

When the overdraft as per Cash Book is the starting point, a cheque of Rs.1,00,000 deposited into Bank but not recorded in Cash Book will be:

0%
Deducted by Rs. 1,00,000.
0%
Added by Rs.1,00,000.
0%
Added by Rs.2,00,000.
0%
Deducted by Rs. 2,00,000.

The payment side of the cash book is undercast by Rs.When overdraft as per pass book is the starting point, to get the overdraft as per cash book ___________.

0%
Rs. 200 will be deducted
0%
Rs. 200 will be added
0%
Rs. 400 will be added
0%
Rs. 400 will be deducted

If we take balance as per pass book, ___________ will be deducted to get balance as per cash book.

0%
interest given by bank
0%
interest charged by bank
0%
cheque deposited but not cleared
0%
payments made by the bank under standing instructions

Mr. X issued cheques worth

R s . 15, 000

$Rs. 15,000$ in March

2014

$2014$ out of which cheques worth

R s . 10, 000

$Rs. 10,000$ only were presented for payment by

31 s t M a r c h, 2014

$31st\ March, 2014$ . While reconiling bank and cash book balance as on

31 s t M a r c h, 2014

$31st\ March, 2014$ , how much would be added to balance as per cash book to arrive at balance as per Pass book.

0%
$Rs. 15,000$
0%
$Rs. 10,000$
0%
$Rs. 5,000$
0%
$Rs. 7,500$

Explanation

Cheques issued by Mr. X is for

R s . 15000

$Rs. 15000$ , so the cash book would be credited by this amount and for the same amount the passbook would be debited only if the cheques are presented for payment. But in the present case cheques worth

R s . 5000

$Rs. 5000$ were not presented for payment by

31 s t M a r c h, 2014

$31 st March , 2014$ due to which the passbook balance would higher than the cash book by

R s . 5000

$Rs. 5000$ .

R s . 5000

$Rs. 5000$ would have to added to the cash book to arrive at balance as per pass book.

Mr. X had two accounts, one current account and another saving bank A/c in a nationalized bank. He drew a cheque of

R s . 5, 000

$Rs. 5,000$ on saving bank but credited to Current A/c in his cash book. Similarly a cheque of

R s . 2, 000

$Rs. 2,000$ deposited in current A/c was debited to Saving Bank A/c. What would be effect of these errors in Bank pass books/ Bank statement of these two A/cs?

0%
Current A/c balance would be more by $Rs. 3,000$ and saving A/c balance less by $Rs. 3,000$ .
0%
Current A/c balance would be more by $Rs. 2,000$ and saving A/c balance less by $Rs. 5,000$ .
0%
Current A/c balance would be less by $Rs. 5,000$ and saving A/c balance more by $Rs. 2,000$ .
0%
Current A/c balance would be more by $Rs. 5,000$ and saving A/c balance less by $Rs. 2,000$ .

Explanation

A cheque of $Rs. 5000$ was wrongly credited to current a/c. in the cash instead of savings a/c. so the pass book balance of savings account would be less by $Rs. 5000$ and the current account pass book balance would be more by $Rs. 5000$ .
Now, in case of second cheque of $Rs. 2000$ it, was deposited in current a/c. but was debited to savings a/c. so, the pass book balance of savings a/c. would be more by $Rs. 2000$ and the current a/c. balnce in the pass book would be less by $Rs. 2000$
So , net effect of both these errors would be that the current a/c balance would be more by $Rs. 3000$ and the savings a/c. balance would be less by $Rs. 3000$

A cheque of

R s . 5000

$Rs. 5000$ in favour of Mr. X was wrongly credited by the bank in Mrs. X a/c as

R s . 550

$Rs. 550$ . While reconciling the bank balance of Mrs. X, bank balance as per bank pass book will be _________.

0%
short by $Rs. 5000$
0%
more by $Rs. 550$
0%
short by $Rs. 550$
0%
more by $Rs. 5050$

Explanation

When a cheque in favour of the account holder is credited in his bank account, it would increase his bank balance. Here a cheque of Mr. X of

R s . 5000

$Rs. 5000$ was wrongly credited by bank in Mrs. X a/c as

R s . 550

$Rs. 550$ . So now the pass book balance of Mr. X would be short by

R s . 5000

$Rs. 5000$ and the pass book balance of Mrs. X would be more by

R s . 550

$Rs. 550$ .

Mr. T issued cheques worth

R s . 25, 000

$Rs. 25,000$ in March

2014

$2014$ out of which cheques worth

R s . 10, 000

$Rs. 10,000$ only were presented for payment by

31 s t M a r c h, 2014

$31st\ March, 2014$ . Balance as per pass book was

R s . 45, 000

$Rs. 45,000$ . What would be balance as per Cash book?

0%
$Rs.30,000$
0%
$Rs.20,000$
0%
$Rs.25,000$
0%
$Rs.15,000$

Explanation

Particulars Rs.

Balance as per pass book (Cr.)

45000

$45000$

Less: Cheques issued but not yet presented for payment

(15000)

$(15000)$

____________

Balance as per cash book (Dr.)

30000

$30000$

A cheque of

R s . 5000

$Rs. 5000$ in favour of Mr. X was wrongly credited by the bank in Mrs. X a/c as

R s . 550

$Rs. 550$ . While reconciling the bank balance of Mrs. X, bank balance as per cash book will be _________.

0%
short by $Rs. 5000$
0%
more by $Rs. 5050$
0%
short by $Rs. 550$
0%
more by $Rs. 5000$

Explanation

When a cheque in favour of the account holder is credited in his bank account, it would increase his bank balance. Here a cheque of Mr. X of

R s . 5000

$Rs. 5000$ was wrongly credited by bank in Mrs. X a/c as

R s . 550

$Rs. 550$ . So now the bank balance as per cash book of Mr. X would be more by

R s . 5000

$Rs. 5000$ and the bank balance as per cash book of Mrs. X would be short by

R s . 550

$Rs. 550$ .

The bank pass book shows

R s . 3, 600

$Rs. 3,600$ but the cash book shows a different balance. While analyzing the cause of difference it was notices that total debit side of cash book was carried forward to next page as

R s . 1, 100

$Rs. 1,100$ instead of

R s . 1, 000

$Rs. 1,000$ . Similarly bills collected by the bank amounting to

R s . 1, 500

$Rs. 1,500$ were not recorded in the cash book. What would be the balance as per Cash book?

0%
$Rs. 2,100$
0%
$Rs. 3,100$
0%
$Rs. 2,000$
0%
$Rs. 2,200$

Explanation

The balance as per cash book is as follows :

	Particulars	Amount in Rs.
	Balance as per passbook	$3600$
Add	Excess carried forward in cash book	$100$
Less	Bills collected by bank not recorded in cash book	$1500$
	Balance as per cashbook	$2200$

Mr.

Y

$Y$ presented three cheques of

R s . 3, 000, R s . 4, 500

$Rs. 3,000, Rs. 4,500$ and

R s . 3, 600

$Rs. 3,600$ with the bank on

28 t h M a r c h, 2014

$28th\ March, 2014$ . Out of these cheques amounting to

R s . 4, 500

$Rs. 4,500$ and

R s . 3, 000

$Rs. 3,000$ were shown in the pass book in the month of April

2014

$2014$ . While reconciling the balance on

31 - 03 - 2014

$31-03-2014$ which of these cheques would be taken in reconciliation.

0%
$Rs. 3,600$
0%
$Rs. 3,000$
0%
$Rs. 4,500$ and $Rs. 3,000$
0%
None of these

Explanation

In the present case cheque amounting to

R s . 3000

$Rs. 3000$ has been cleared in the month of March 2014 and whereas the remaining two cheques of

R s .4500

$Rs.4500$ and

R s .3600

$Rs.3600$ were showed in the pass book in the month of April 2014 which means they were cleared in April. But Mr. Y would have made the entries pertaining to all the three cheques in the month of March itself. And so while reconciling the balance as on

31 - 03 - 2014

$31-03-2014$ the two cheques of

R s . 4500

$Rs. 4500$ and

R s . 3000

$Rs. 3000$ would be considered for adjustments.

A Bank Reconciliation Statement is prepared to know the causes for the difference between ___________________.

0%
the balances as per cash column of Cash Book and the Pass Book
0%
the balance as per bank column of Cash Book and the Pass Book.
0%
the balance as per bank column of the Cash Book and balance as per cash column of Cash Book
0%
none of the above

Overdraft as per cash book means ___________.

0%
credit balance in the cash column of the cash book
0%
credit balance in the bank column of the cash book
0%
neither of the two
0%
both (a) and (b)

Mr. A issued cheques worth Rs. 10,000 in March 2014 out of which cheque worth Rs. 7,000 only were presented for payment by 31st March,While reconciling bank and cash book balance as on 31st March, 2014, how much would be added to balance as per cash book to arrive at balance as per Pass book

0%
Rs. nothing
0%
Rs. 7,000
0%
Rs. 3,000
0%
Rs. 10,000

Which of the following are the salient features of bank reconciliation statement?

0%
Any undue delay in the clearance of cheque will be shown up by the reconciliation
0%
Reconciliation statement will help in finding the person doing any fraud
0%
It helps in finding out the actual position of the bank balance
0%
(a), (b) and (c)

When overdraft as per pass book is the starting point, bank charges of Rs 100 recorded twice in cash book will be ___________.

0%
added by Rs 100
0%
added by Rs 200
0%
deducted by Rs 100
0%
deducted by Rs 200

The credit balance of Rs 1,000 in the bank column of the cash book was carried forward as its debit balance. When overdraft as per pass book is the starting point, _____________.

0%
Rs 1,000 will be deducted
0%
Rs 1,000 will be added
0%
Rs 2,000 will be deducted
0%
Rs 2,000 will be added

Bank column of cash book showed bank balance of

R s . 9950

$Rs. 9950$ . While reconciling the bank balance it was noticed that a cheque issued and paid by the bank

R s . 5100

$Rs. 5100$ was wrongly shown on the debit side of bank column as

R s . 510

$Rs. 510$ , bank charges amounting to

R s . 210

$Rs. 210$ , LIC payment of

R s . 1200

$Rs. 1200$ made by the bank as per standing instruction were not accounted in the cash book. Find the adjusted balance of cash as per cash book.

0%
$Rs. 5400$
0%
$Rs. 3240$
0%
$Rs. 3150$
0%
$Rs. 2930$

Explanation

The adjusted balance as per cash book is as follows :

	Particulars	Amt in Rs.
	Bank balance as per cash book	$9950$
Add	Wrong cheque amount debited	$510$
Less	Correct cheque amount issued	$5100$
Less	Bank charges	$210$
Less	LIC payment made by bank on standing instruction	$1200$

	Adjusted balance as per cash book	$2930$

Debit balance as per Cash Book is Rs 2,000, cheques deposited but not cleared amounts to Rs 100 and Cheques issued but not presented of RsThe bank allowed interest amounting to Rs 50 and collected dividend RsBalance as per pass book should be ____________.

0%
Rs.2,100
0%
Rs.1,950
0%
Rs.2,350
0%
Rs.2,150

When balance as per cash book is the starting point,cheque deposited but not cleared are____for the purpose of reconciliation of balance with bank passbook

0%
Deducted from cash as per cash book
0%
Added to the cash as per cash book
0%
Deducted from balance as per bank passbook
0%
Kept in abeyance for some time

When the overdraft as per cash book is the starting point, a cheque for Rs 500 deposited into bank but not recorded in cash book will be _________.

0%
added by Rs 500
0%
deducted by Rs 500
0%
added by Rs 1,000
0%
deducted by Rs 2,000

From the following information calculate balance as pass book
-Balance as per cash book (Dr.)

1, 900

$1,900$
-Cash deposited in bank for Rs.

100

$100$ entered in cash book as

R s .90

$Rs.90$
-Transfer to saving bank account not entered in cash book

R s .1, 500

$Rs.1,500$
-Bank charges not recorded in cash book

R s .20

$Rs.20$
-Standing order payment

R s .30

$Rs.30$

0%
Rs. $440$
0%
Rs. $260$
0%
Rs. $3,320$
0%
Rs. $360$

Explanation

The reconciliation is as follows :

	Particulars	Amount in Rs.
	Balance as per cash book (Dr.)	$1900$
Add	Cash deposited in bank ( $100 - 90$ )	$10$
Less	Transfer to saving bank account	$1500$
Less	Bank charges not recorded	$20$
Less	Standing order payment	$30$
	Balance as per pass book (Cr.)	$360$

Bank balance as per cash book (Dr.) Rs.

10, 000

$10,000$ . A comparison of pass book and cash book revealed the following -
-Rs.

590

$590$ was wrongly debited by bank
-Transfer by bank to another account with no advice Rs.

2, 500

$2,500$ .
Balance as per pass book will be __________.

0%
Rs. $13,090$
0%
Rs. $6,910$
0%
Rs. $8,090$
0%
Rs. $11,910$

Explanation

The reconciliation statement is as follows :

	Particulars	Amount in Rs.
	Bank balance as per cash book (Dr.)	$10000$
Less	Bank charges wrongly debited	$590$
Less	Bank transfer to another account without any advice	$2500$
	Balance as per pass book (Cr.)	$6910$

From the following information calculate balance as cash book

Balance as per pass book (Cr.)

Cash deposited in bank for Rs.

100

$100$ entered in cash book as

Transfer to saving bank account not entered in cash book

Bank charges not recorded in cash book

Standing order payment

1, 520

$1,520$

72

$72$

1, 200

$1,200$

16

$16$

24

$24$

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 in bank wrongly entered in cash book	$28$
Add	Transfer to saving bank account not entered in cash book	$1200$
Add	Bank charges not recorded in cash book	$16$
Add	Standing order payment not recorded	$24$
	Balance as per cash book (Dr.)	$2732$

Which of the following will not be considered while preparing an amended cash book?

0%
Cheques issued but not presented for payment .
0%
Cheques deposited but not credited by bank .
0%
Any wrong entry in the pass book .
0%
All of the above .

31

$31$ st March

2012

$2012$ , bank balance as per pass book (Cr.) Rs.

20, 000

$20,000$ . A comparison of pass book and cash book revealed the following:
-Cheques deposited of Rs.

20, 000

$20,000$ , out of these cheques, bank had credited cheques of Rs.

5, 000

$5,000$ .
-Bank charges Rs.

100

$100$ was not entered in cash book.
Balance as per cash book will be ________.

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.
	Bank balance as per pass book (Cr.) as on 31 st March 2012	$20000$
Add	Cheque deposited but not credited	$15000$
Add	Bank charges not entered in cash book	$100$
	Balance as per cash book (Dr.) as on 31 st March 2012	$35100$

Bank balance as per cash book (Dr.) Rs.

25, 450

$25,450$ . A comparison of pass book and cash book revealed the following:
-The bank had directly collected dividend of Rs.

400

$400$ and interest Rs.

300

$300$ .
-As per standing instruction bank had paid bills of Rs.

2, 000

$2,000$ .
Balance as per pass book will be ___________.

0%
Rs $28,150$
0%
Rs. $26,750$
0%
Rs. $22,750$
0%
Rs. $24,150$

Explanation

The reconciliation statement is as follows :

	Particulars	Amount in Rs.
	Bank balance as per cash book (Dr.)	$25450$
Add	Dividend directly collected by bank	$400$
Add	Interest directly collected by bank	$300$
Less	Bills paid as per standing instruction	$2000$
	Balance as per pass book (Cr.)	$24150$

The balance shown by bank column of cash book was

R s . 48, 000

$Rs. 48,000$ on 31.1.A cheque issued worth

R s . 24, 000

$Rs. 24,000$ on 16th Jan. was not cleared till 31st Jan. Cheque worth

R s . 10, 000

$Rs. 10,000$ received on 20th Jan and deposited on 21st Jan. was cleared on 27-1-The balances as per pass book as on 31st January (assuming opening balance of pass book and cash book arc equal) is _____________.

0%
$Rs. 14,000$
0%
$Rs. 24,000$
0%
$Rs. 72,000$
0%
$Rs. 82,000$

Explanation

The reconciliation statement is as follows:

	Particulars	Amount in Rs.
	Balance as per bank column of cash book as on 31.01.18	$48000$
Add	Cheque issued but not cleared	$24000$
	Balance as per pass book	$72000$

No adjustment is required for cheque of

R s . 10000

$Rs. 10000$ as it has cleared in the month of January itself.

The cash book showed an overdraft of Rs. 2000 as 'cash at bank', but the pass book made up to the same date showed that cheques for Rs. 150 and Rs. 125 respectively had not been presented for payment; and the cheque for Rs. 400 paid into account had not been cleared. The balance as per the pass book will be ___________.

0%
$Rs.1600$
0%
$Rs.2675$
0%
$Rs.2125$
0%
$Rs.1875$

Explanation

Cash Book:

Overdraft balance: (

R s .2, 000

$Rs.2,000$ )

Less: Cheques not presented for payment (

R s .275

$Rs.275$ )

Add: Cheque not cleared:

R s .400

$Rs.400$

Balance as per bank pass book: (

R s .1, 875

$Rs.1,875$ )

31

$31$ st March

2012

$2012$ , bank balance as per cash book (Dr.) Rs.

10, 000

$10,000$ . A comparison of pass book and cash book revealed the following -
-Cheques deposited for Rs.

10, 000

$10,000$ out of these cheques bank credited cheques of Rs.

2, 500

$2,500$
-Bank charges Rs.

50

$50$ was not entered in cash books.
Balance as per pass book will be ________.

0%
Rs. $20,050$
0%
Rs. $17,550$
0%
Rs.( $50$ )
0%
Rs. $2,450$

Explanation

The reconciliation statement is as follows :

	Particulars	Amount in Rs.
	Bank balance as per cash book (Dr.) as on 31 st March 2012	$10000$
Less	Cheques deposited but not cleared	$7500$
Less	Bank charges not entered	$50$
	Balance as per pass book (Cr.) as on 31 st March 2012	$2450$

CBSE Questions for Class 10 Elements Of Book Keeping And Accountancy Bank Reconciliation Statement Quiz 8 - MCQExams.com

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Practice Class 10 Elements Of Book Keeping And Accountancy Quiz Questions and Answers

CBSE Questions for Class 10 Elements Of Book Keeping And Accountancy Bank Reconciliation Statement Quiz 8 - MCQExams.com

0:0:8

Practice Class 10 Elements Of Book Keeping And Accountancy Quiz Questions and Answers

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