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CA Foundation June 23 BRS Problem - CTC Classes

This document provides two problems related to preparing bank reconciliation statements. Problem 1 lists various transactions to be used to prepare a bank reconciliation statement as of March 31, 2021. Problem 2 lists 13 transactions with errors to be used to prepare a bank reconciliation statement as of November 30, 2020, including omitted, incorrect, and unrecorded items in both the cash book and bank statements. The document encourages students to join the Telegram channel for free notes and updates to help with their CA Foundation exam preparation.

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Mohit Sharma
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2K views

CA Foundation June 23 BRS Problem - CTC Classes

This document provides two problems related to preparing bank reconciliation statements. Problem 1 lists various transactions to be used to prepare a bank reconciliation statement as of March 31, 2021. Problem 2 lists 13 transactions with errors to be used to prepare a bank reconciliation statement as of November 30, 2020, including omitted, incorrect, and unrecorded items in both the cash book and bank statements. The document encourages students to join the Telegram channel for free notes and updates to help with their CA Foundation exam preparation.

Uploaded by

Mohit Sharma
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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CA Foundation MATLAB CTC Classes

BANK RECONCILIATION STATEMENT

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PROBLEM - 1
Prepare a Bank Reconciliation Statement from the following particulars as on 31st
March, 2021:

Particulars Amount
Debit balance as per bank column of the cash book 18,60,000
Cheque issued to creditors but not yet presented to 3,60,000
the bank for payment
Dividend received by the bank but not entered in the
Cash book 2,50,000
Interest allowed by the Bank 6,250
Cheques deposited into the bank for collection but
not collected by bank upto this date 7,70,000
Bank Charges not entered in Cash Book 1,000
A cheque deposited into bank was dishonored but no
intimation received 1,60,000
Bank paid house tax on our behalf but no intimation
received from bank in this connection 1,75,000
Insurance premium paid by bank as per standing
instruction not intimated 15,900
Cash sales wrongly recorded in the Bank column of
the cash-book 2,55,000
Wrong credit given by the bank 1,50,000
Payments side of the Cash-book was under cast by 350
On 20th March, 2021 the debit balance as on the
previous day, was brought forward as credit balance
in Cash-book 2,500
A customer, who received a cash discount of 5% on
his account of Rs. 2,000, paid cheque on 24th March,
2021. The cashier erroneously entered the gross
amount in the Cash-Book. 2,000
Bank recorded a Cash deposit of Rs. 1,550 as Rs. 1,505

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PROBLEM - 2

On 30th November, 2020, the Bank Statement of Mr. Hari showed Rs. 3,200 overdrawn. An
examination of the records showed the following errors:
(i) The debit side of the Cash Book was undercast by Rs. 400.
(ii) A cheque for Rs. 1,600 in favour of Y suppliers Ltd. was omitted by the bank from the
statement, the cheque was debited to another customer’s Account.
(iii) A cheque for Rs. 172 drawn for payment of telephone bill was recorded in the Cash Book as
Rs. 127 but was shown correctly in the Bank Statement.
(iv) A cheque for Rs. 425 from Mr. Pal paid into bank was dishonoured and shown as such on
the Bank Statement, although no entry relating to the dishonoured cheque was made in the
Cash Book.
(v) The Bank had debited a cheque for Rs. 150 to Mr. Hari’s Account by mistake, it should have
been debited by them to Mr. Kar’s Account.
(vi) A dividend of Rs. 100 was collected by the bank but not entered in the Cash Book.
(vii) Cheque for Rs. 1,200 deposited on 30th November was not credited by the Bank.
(viii) Interest amounting to Rs. 300 was debited by the Bank but yet to be entered in the Cash
Book.
(ix) A cheque worth Rs. 400 directly deposited into Bank by customer but no entry was made in
the Cash Book.
(x) Out of cheques issued worth Rs. 34,000, cheques amounting to Rs. 20,000 only were
presented for payment till 30th Nov, 2020.
(xi) A cheque for Rs. 4,000 received and entered in the Cash Book but it was not sent to the
Bank.
(xii) Cheques worth Rs. 20,000 had been sent to Bank for collection but the collection was
reported by the Bank as under.

(1) Cheques collected before 30th Nov, 2020, Rs. 14,000


(2) Cheques collected on 10th Dec, 2020, Rs. 4,000
(3) Cheques collected on 12th Dec, 2020, Rs. 2,000.
(xiii) The Bank made a direct payment of Rs. 600 which was not recorded in the Cash Book.

You are required to prepare a Bank Reconciliation Statement on 30th November, 2020.

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