(a) From the following information, prepare Bank reconciliation statement to find out balance as per bank statement on 31st March 2017.
(i) Cheques deposited but not yet collected by the bank ₹ 500
(ii) Cheque issued but not yet presented for payment ₹ 1000
(iii) Bank interest ch

Question

(a) From the following information, prepare Bank reconciliation statement to find out balance as per bank statement on 31st March 2017.
(i) Cheques deposited but not yet collected by the bank ₹ 500
(ii) Cheque issued but not yet presented for payment ₹ 1000
(iii) Bank interest charged ₹ 100
(iv) Rent paid by Bank as per standing instruction ₹ 200
(v) Cash book balance ₹ 300

OR

(b) On 1st October 2014, a truck was purchased for ₹ 8,00,000 by Laxmi Transports Ltd. Depreciation was provided @ 15% p.a under diminishing balance method. On 31st March 2017, the above truck was sold for ₹ 5,00,000. Accounts are closed on 31st March every year. Find out the profit or loss made on the sale of the truck.

Accepted Answer

>

> [!TLDR]
> (a) BRS from cash book balance ₹300 gives a pass book balance of ₹500. (b) Truck WDV on 31 March 2017 = ₹5,34,650; sold for ₹5,00,000 → loss ₹34,650.
>
> ## (a) Bank Reconciliation Statement as on 31 March 2017
>
> | Particulars | Plus ₹ | Minus ₹ |
> | --- | --- | --- |
> | Balance as per cash book | 300 | |
> | Add: Cheque issued but not yet presented | 1,000 | |
> | Less: Cheques deposited but not yet collected | | 500 |
> | Less: Bank interest charged | | 100 |
> | Less: Rent paid by bank (standing instruction) | | 200 |
> | | 1,300 | 800 |
> | **Balance as per bank statement (pass book)** | **500** | |
>
> Working: 300 + 1,000 − 500 − 100 − 200 = ₹500.
>
> ## (b) Depreciation on truck (Diminishing Balance @15% p.a.)
>
> Purchased 1 October 2014 for ₹8,00,000; accounts closed 31 March each year; sold 31 March 2017.
>
> | Period | Working | Depreciation ₹ | Book value ₹ |
> | --- | --- | --- | --- |
> | Cost (1 Oct 2014) | | | 8,00,000 |
> | 1 Oct 2014 – 31 Mar 2015 (6 months) | 8,00,000 × 15% × 6/12 | 60,000 | 7,40,000 | …

Q.(a) From the following information, prepare Bank reconciliation statement to find out balance as per bank statement on 31st March 2017.

Concept understanding — Preparing BRS from Cash Book Balance

(a) Bank Reconciliation Statement as on 31 March 2017

(b) Depreciation on truck (Diminishing Balance @15% p.a.)

Particulars	Plus ₹	Minus ₹
Balance as per cash book	300
Add: Cheque issued but not yet presented	1,000
Less: Cheques deposited but not yet collected		500
Less: Bank interest charged		100
Less: Rent paid by bank (standing instruction)		200
	1,300	800
Balance as per bank statement (pass book)	500

Period	Working	Depreciation ₹	Book value ₹
Cost (1 Oct 2014)			8,00,000
1 Oct 2014 – 31 Mar 2015 (6 months)	8,00,000 × 15% × 6/12	60,000	7,40,000

Q.(a) From the following information, prepare Bank reconciliation statement to find out balance as per bank statement on 31st March 2017.

(a) Bank Reconciliation Statement as on 31 March 2017

(b) Depreciation on truck (Diminishing Balance @15% p.a.)

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