Class 11th Chapter 6. Bank Reconciliation Statement

BANK RECONCILIATION STATEMENT 

BANK RECONCILIATION STATEMENT Solution With Explanations and Calculations of Standard 11th Maharashtra State Board. All Textbook Practical Problems are Solved. Students can ask there doubts in comment box.  Below are the Practical Problems click on the problem to get solution with explanations and calculations

MEANING: A Businessman maintains a Cash Book to record all the transactions of the Business activities. Cash Book also consists with bank column in his Ledger. The bank column in his Cash Book represents bank current account. Whereas the bank to prepare the transaction statement in Pass Book. When Businessman deposits money or cheque into bank for collection it is recorded in the Cash Book on the debit or receipt side. Bank records this on the credit or deposit side of Pass Book. Similarly when Money or Cheque withdrawn by businessman, it is recorded on the credit side of Payment side of the Cash Book. Bank record in Pass Book on the debit side or withdrawal side. But in practical Life, when we compared Cash Book with Pass Book for analyzing their would be some entries which are missing by businessman and Bank.

Bank Reconciliation Statement Definition: "A statement which reconciles the bank balance as per Cash Book and the balance as per Pass Book showing all causes of difference between the two"

Bank Reconciliation Statement Example: Understand with the Example, Transaction of rent paid by businessman by Cheque does not recorded in cash Book. When He analyzing the Bank statement showing less balance then Cash Book, He finds that he fails to record the rent paid by cheque is not recorded.  This are the types of difference appears in real life transactions. Therefore, Bank Reconciliation Statement is prepared.          

PRACTICAL  PROBLEMS

Bank Reconciliation Statement Question and Answer

Bank Reconciliation Statement Example

Bank Reconciliation Statement rules

1. Following is the extract of Cash Book (Bank Column only) and Pass Book. Prepare Bank Reconciliation Statement as on 31st Oct. 2018. 

 
 

2. From the following extract of Cash Book and Pass Book prepare Bank Reconciliation Statement as on 31st March 2019.  

 
 

3. On 31st August 2018 bank Pass Book of Mr. Ravi showed a credit balance of ₹33,600, but Cash Book Showed a different balance. On comparing the two books following differences were noticed:  

 

 

4. From the following details prepare Bank Reconciliation Statement as on 31st Dec 2018. 

 

 

5. From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019. 

   

6. Prepare Bank Reconciliation statement from the following information as on 31st March, 2019. 

 
 

7. On 31st January 2018 Bank balance as per cash book was ₹40,000 but Pass Book was showing some other balance following were the cause of difference. 

 

 

8. On January 2018, the Pass Book of Mr. Girish Kumarbhai showed a bank balance of ₹14,000. A comparison of the cash Book with the Pass Book, revealed the following. 

 
 

9. From the following details provided by Prashant enterprises, prepare Bank Reconciliation statement as on 31st March, 2018. 

 

 

10. Prepare Bank Reconciliation Statement as on 31st December. 2018.  

1. Bank Statement 

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2.  Pass Book 

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Q.8. Correct and rewrite the following statements.

1. The form filled for depositing cash or cheque into bank is known as Pass Book.

⇨ The form filled for depositing cash or cheque into bank is known as deposit slip or Pay–in–slip.

2. Bank Reconciliation Statement is prepared by Bank.

⇨  Bank Reconciliation Statement is prepared by Businessmen.

3. Debit balance as per Pass Book is know as favorable balance.

⇨ Debit balance as per Pass Book is know as unfavorable balance.

4. When a cheque is deposited into Bank it is credited in Cash Book.

⇨ When a cheque is deposited into Bank it is credited in Pass Book.

⇨ When a cheque is deposited into Bank it is debited in Cash Book.

5. When extracts are given for common period only common items are to be considered.

⇨ When extracts are given for common period only uncommon items are to be considered.

Q.9 Complete the following table.

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