Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 154 views

    Markson

    Uploaded by

    yaregal
    Markson's & Co. had a balance of $1,000 per its passbook and $1,050 per its cash book as of March 31, 2019. The differences were a $300 deposited cheque not collected, $50 in bank charges in the passbook but not cash book, and $200 in issued cheques not yet presented. After adjustments, the reconciled balance is $1,050. Wright Inc. had a $10,000 passbook balance as of December 31, 2018. Differences were $6,000 in deposited cheques not cleared, a $500 cheque issued but not presented, $1,000 in dividends and $400 in deposits recorded by the bank but not in

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Markson

    Uploaded by

    yaregal
    154 views2 pages
    Markson's & Co. had a balance of $1,000 per its passbook and $1,050 per its cash book as of March 31, 2019. The differences were a $300 deposited cheque not collected, $50 in bank charges in the passbook but not cash book, and $200 in issued cheques not yet presented. After adjustments, the reconciled balance is $1,050. Wright Inc. had a $10,000 passbook balance as of December 31, 2018. Differences were $6,000 in deposited cheques not cleared, a $500 cheque issued but not presented, $1,000 in dividends and $400 in deposits recorded by the bank but not in

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Markson's & Co. had a balance of $1,000 per its passbook and $1,050 per its cash book as of March 31, 2019. The differences were a $300 deposited cheque not collected, $50 in bank charges in the passbook but not cash book, and $200 in issued cheques not yet presented. After adjustments, the reconciled balance is $1,050. Wright Inc. had a $10,000 passbook balance as of December 31, 2018. Differences were $6,000 in deposited cheques not cleared, a $500 cheque issued but not presented, $1,000 in dividends and $400 in deposits recorded by the bank but not in

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    154 views2 pages

    Markson

    Uploaded by

    yaregal
    Markson's & Co. had a balance of $1,000 per its passbook and $1,050 per its cash book as of March 31, 2019. The differences were a $300 deposited cheque not collected, $50 in bank charges in the passbook but not cash book, and $200 in issued cheques not yet presented. After adjustments, the reconciled balance is $1,050. Wright Inc. had a $10,000 passbook balance as of December 31, 2018. Differences were $6,000 in deposited cheques not cleared, a $500 cheque issued but not presented, $1,000 in dividends and $400 in deposits recorded by the bank but not in

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 2

    Markson’s & Co. has a balance as per pass book of $1,000 as on 31st March 2019.

    It has a
    balance as per Cash Book as on 31st March 2019 of $1050. Further details are as follows:

    1. A cheque of $300 was deposited, but not collected by the bank.


    2. Bank charges of $50 were recorded in Passbook, but not in Cash Book.
    3. Cheques worth $200 were issued, but not presented for payment.
    4. Bank interest of $100 was recorded in Passbook, but not in Cash Book.

    Solution: 

    Bank Reconciliation Statement of Markson’s & Co. as on 31st March 2019

    Particulars Amount Amount


    Balance as per passbook 1000
    Add:- cheque deposited, but not collected 300
    Bank charges not recorded in cash book 50 350
    Less :-chaques issued but not presented for payment 200
    Bank interest received unrecorded in cash book 100 (300)
    Balance as per the cash book 1050

    Bank Reconciliation Example – 2

    Wright Inc. has a balance in a Passbook of $10,000 as on 31st December 2018. These are the
    other details:

    1. Three cheques of $2,000, $1,500 and $2,500 were deposited in the bank on 30th
    December 2018 but were recorded in the bank statement in January 2019.
    2. Cheque of $500 issued on 31st December 2018 was not presented for payment.
    3. A dividend of $1,000 on stocks was credited in Bank Account, but not recorded in Cash
    Book.
    4. A direct deposit of $400 was made in Bank Account by a customer, which was not
    recorded in Cash Book.
    5. Bank charges of $100 were entered only in Bank Passbook
    6. Balance as per Cash Book on 31st December 2018 was $14,200.
    Solution: 

    Bank Reconciliation Statement of Wright Inc. as on 31st December 2018

    Particulars Amount Amount


    Balance as per passbook 10,000
    Add:- cheque deposited, but not collected by bank 6,000
    2,000+1,500+ 2,500
    Bank charges not recorded in cash book 100 6,100
    Less :-chaques issued but not presented for payment 500
    Dividends collect by bank 1,000
    Direct deposit not recorded in cash book 1,000 1050
    Balance as per the cash book 400 (1,900)
    14,200

    You might also like