Accounting For Business 10 October
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The document provides information to prepare a bank reconciliation statement, including a starting bank balance of Rs. 30 Lakhs. It lists several additional transactions that require adjustment: cheques worth Rs. 50,000 have been issued but not cleared; a direct payment of Rs. 4,000 for insurance and Rs. 20,000 for a loan installment were not recorded; a cheque sent for collection of Rs. 40,000 has not been credited; and a cheque received for Rs. 4,000 was mistakenly credited to someone else.
Accounting For Business 10 October
- 1. AFTERSCHO?OL www.afterschoool.tk SOCIAL ENTREPRENEURSHIP Prepare bank reconciliation statement from the following information : Bank balance as per bank statement: Rs. 30 Lakhs Additional information: 1. We had issued chaques of Rs. 50000 to parties, but these were not presented to the bank 2. We had instructed the bank to make our insurance payment, the bank made direct payment of Rs. 4000 – which we did not record in our bank account
- 2. 3. We had asked bank to make payment of our loan instalment directly – which was Rs. 20000 – we didn’t know about it –and didn’t record in our bank account. 4. We had send a cheque for collection, which the bank has not yet credited Rs. 40000. 5. We had received a chque, which we had sent to the bank, but bank had credited to someone else by mistake Rs. 4000.