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On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500. Prepare a Bank Reconciliation Statement to find out Balance as per bank column of Cash Book as on 31st January, 2021 by taking into consideration the below given information. 1. Subsidy from Karnataka State Government of $ 101,100 has been directly deposited into the Bank account of Dave Ltd. but this is not known to the Company's Accountant. 2. Amount of $ 77,750 wrongly debited from Company's Bank account but information is not known to Company. 3. A Draft of $ 55,500 deposited into the Company's Bank, but it is not credited before 31st January, 2021. 4. Checks of value $ 115,720 issued to creditors but they haven't presented for payment before 31st January, 2021. 5. An Outgoing check of value $ 78,750 has been recorded twice in the Cash Book. 6. Cheques worth $ 102,450 deposited into the Bank and entered in the Cash book but later found to be none of the checks were cleared before 31st January, 2021. 7. Interest on the Overdraft facility of $ 7,850 was debited by the Bank but no entry was made in Cash book. From the above particulars prepare a Bank Reconciliation Statement and find out the Balance as per Bank column of Cash Book as on 31st January, 2021.

On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500. Prepare a Bank Reconciliation Statement to find out Balance as per bank column of Cash Book as on 31st January, 2021 by taking into consideration the below given information. 1. Subsidy from Karnataka State Government of $ 101,100 has been directly deposited into the Bank account of Dave Ltd. but this is not known to the Company's Accountant. 2. Amount of $ 77,750 wrongly debited from Company's Bank account but information is not known to Company. 3. A Draft of $ 55,500 deposited into the Company's Bank, but it is not credited before 31st January, 2021. 4. Checks of value $ 115,720 issued to creditors but they haven't presented for payment before 31st January, 2021. 5. An Outgoing check of value $ 78,750 has been recorded twice in the Cash Book. 6. Cheques worth $ 102,450 deposited into the Bank and entered in the Cash book but later found to be none of the checks were cleared before 31st January, 2021. 7. Interest on the Overdraft facility of $ 7,850 was debited by the Bank but no entry was made in Cash book. From the above particulars prepare a Bank Reconciliation Statement and find out the Balance as per Bank column of Cash Book as on 31st January, 2021.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 5E
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On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500. Prepare a Bank Reconciliation Statement to find out Balance as per bank column of Cash Book as on 31st January, 2021 by taking into consideration the below given information. 1. Subsidy from Karnataka State Government of $ 101,100 has been directly deposited into the Bank account of Dave Ltd. but this is not known to the Company's Accountant. 2. Amount of $ 77,750 wrongly debited from Company's Bank account but information is not known to Company. 3. A Draft of $ 55,500 deposited into the Company's Bank, but it is not credited before 31st January, 2021. 4. Checks of value $ 115,720 issued to creditors but they haven't presented for payment before 31st January, 2021. 5. An Outgoing check of value $ 78,750 has been recorded twice in the Cash Book. 6. Cheques worth $ 102,450 deposited into the Bank and entered in the Cash book but later found to be none of the checks were cleared before 31st January, 2021. 7. Interest on the Overdraft facility of $ 7,850 was debited by the Bank but no entry was made in Cash book. From the above particulars prepare a Bank Reconciliation Statement and find out the Balance as per Bank column of Cash Book as on 31st January, 2021.
Transcribed Image Text:On 31st January, 2021 the Balance as per Pass book of S.V. Ltd. is $ 505,500. Prepare a Bank Reconciliation Statement to find out Balance as per bank column of Cash Book as on 31st January, 2021 by taking into consideration the below given information. 1. Subsidy from Karnataka State Government of $ 101,100 has been directly deposited into the Bank account of Dave Ltd. but this is not known to the Company's Accountant. 2. Amount of $ 77,750 wrongly debited from Company's Bank account but information is not known to Company. 3. A Draft of $ 55,500 deposited into the Company's Bank, but it is not credited before 31st January, 2021. 4. Checks of value $ 115,720 issued to creditors but they haven't presented for payment before 31st January, 2021. 5. An Outgoing check of value $ 78,750 has been recorded twice in the Cash Book. 6. Cheques worth $ 102,450 deposited into the Bank and entered in the Cash book but later found to be none of the checks were cleared before 31st January, 2021. 7. Interest on the Overdraft facility of $ 7,850 was debited by the Bank but no entry was made in Cash book. From the above particulars prepare a Bank Reconciliation Statement and find out the Balance as per Bank column of Cash Book as on 31st January, 2021.
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