On comparing the cash book with the passbook of Naman, it is found that on March 31, 2017, bank balance of ₹ 40,960 showed by the cash book differs from the bank balance with regard to the following: 1) Bank charges ₹ 100 on March 31, 2017, are not entered in the cash book. 2) On March 21, 2017, a debtor paid ₹ 2,000 into the company’s bank in settlement of his account, but no entry was made in the cash book of the company in respect of this. 3) Cheques totaling ₹ 12,980 were issued by the company and duly recorded in the cash book before March 31, 2017, but had not been presented at the bank for payment until after that date. 4) A bill for ₹ 6,900 discounted with the bank is entered in the cash book with recording the discount charge of ₹ 800. 5) ₹ 3,520 is entered in the cash book as paid into bank on March 31st, 2017, but not credited by the bank until the following day. 6) No entry has been made in the cash book to record the dishonour or on March 15, 2017 of a cheque for ₹ 650 received from Bhanu.

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5. On comparing the cash book with the passbook of Naman, it is found that on March 31, 2017, bank balance of ₹ 40,960 showed by the cash book differs from the bank balance with regard to the following: 

1) Bank charges ₹ 100 on March 31, 2017, are not entered in the cash book. 

2) On March 21, 2017, a debtor paid ₹ 2,000 into the company’s bank in settlement of his account, but no entry was made in the cash book of the company in respect of this. 

3) Cheques totaling ₹ 12,980 were issued by the company and duly recorded in the cash book before March 31, 2017, but had not been presented at the bank for payment until after that date. 

4) A bill for ₹ 6,900 discounted with the bank is entered in the cash book with recording the discount charge of ₹ 800. 

5) ₹ 3,520 is entered in the cash book as paid into bank on March 31st, 2017, but not credited by the bank until the following day. 

6) No entry has been made in the cash book to record the dishonour or on March 15, 2017 of a cheque for ₹ 650 received from Bhanu. 

Prepare a bank reconciliation statement as on March 31, 2017. 

 

Solution: bank reconciliation statement as on March 31, 2017. 

 

No.	Particulars	(+) Amount (₹)	(-) Amount (₹)
	Balance as per Cash Book	40,096
1.	Bank charges ₹ 100 are not entered in the cash book		100
2.	debtor paid ₹ 2,000 into the company’s bank no entry is made in cash Book	2,000
3.	Cheques issues but not presented by bank	12,980
4.	A bill for ₹ 6,900 discounted with the bank is entered in the cash book with recording the discount charge of ₹ 800		800
5.	cash book as paid into bank but not credited by the bank		3,520
6.	No entry has been made in the cash book to record the dishonour		650
	Balance as per Pass Book		50,870
		55,940	55,940

 

Explanation: 

A bank reconciliation statement is a statement that explains the differences between the balance shown in the bank statement and the balance shown in the cash book of a company. It is an important document used by companies to ensure that their cash book and bank statement balances are accurate and to identify any errors or discrepancies. Here are the steps to prepare a bank reconciliation statement: Step 1: Enter the balance as per the cash book Enter the balance as per the cash book on the credit side of the bank reconciliation statement. Step 2: Enter the balance as per the bank statement Enter the balance as per the bank statement on the debit side of the bank reconciliation statement. Step 3: Compare the two balances Compare the balance as per the cash book and the balance as per the bank statement. If they are the same, then there is no need to proceed further. Step 4: Identify the items that are in the cash book but not in the bank statement Identify the items that are in the cash book but not in the bank statement. This includes deposits in transit, outstanding checks, and bank charges. Step 5: Adjust the cash book balance Adjust the cash book balance by adding the items that are in the cash book but not in the bank statement. Step 6: Identify the items that are in the bank statement but not in the cash book Identify the items that are in the bank statement but not in the cash book. This includes bank interest, electronic deposits, and bank fees. Step 7: Adjust the bank statement balance Adjust the bank statement balance by adding the items that are in the bank statement but not in the cash book. Step 8: Prepare the final bank reconciliation statement Prepare the final bank reconciliation statement by showing the adjusted balance as per the cash book and the adjusted balance as per the bank statement. If the two balances are the same, then the reconciliation is complete. If there is still a difference between the two balances, then there may be an error or discrepancy that needs to be investigated and corrected. I hope this helps you understand how to prepare a bank reconciliation statement for your class 11th accounts studies.