Bank Reconciliation Statement - Important Question Paper

11th Standard

    Reg.No. :
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Accountancy

Time : 01:00:00 Hrs
Total Marks : 50

    Part A

    Multiple Choice Question

    15 x 1 = 15
  1. A bank reconciliation statement is prepared by ___________.

    (a)

    Bank

    (b)

    Business

    (c)

    Debtor to the business

    (d)

    Creditor to the Business

  2. A bank reconciliation statement is prepared with the help of ___________.

    (a)

    Bank statement

    (b)

    Cash book

    (c)

    Bank statement and bank column of the cash book

    (d)

    Petty cash book

  3. Debit balance in the bank column of the cash book means ____________.

    (a)

    Credit balance as per bank statement

    (b)

    Debit balance as per bank statement

    (c)

    Overdraft as per cash book

    (d)

    None of the above

  4. A bank statement is a copy of ____________.

    (a)

    Cash column of the cash book

    (b)

    Bank column of the cash book

    (c)

    A customer's account in the bank's book

    (d)

    Cheques issued by the business

  5. A bank reconciliation statement is prepared to know the causes for the difference between:

    (a)

    The balance as per the cash column of the cash book and bank column of the cash book.

    (b)

    The balance as per the cash column of the cash book and bank statement

    (c)

    The balance as per the bank column of the cash book and the bank statement.

    (d)

    The balance as per petty cash book and the cash book

  6. Which of the following is not the salient feature of bank reconciliation statement?

    (a)

    Any undue delay in the clearance of cheques will be shown up by the reconciliation

    (b)

    Reconciliation statement will discourage the accountant of the bank from embezzlement

    (c)

    It helps in finding the actual position of the bank balance

    (d)

    Reconciliation statement is prepared only at the end of the accounting period

  7. Balance as per cash book is Rs. 2,000. Bank charge of Rs. 50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now?

    (a)

    Rs 1,950 credit balance

    (b)

    Rs 1,950 debit balance

    (c)

    Rs 2,050 debit balance

    (d)

    Rs 2,050 credit balance

  8. Balance as per bank statement is Rs. 1,000. Cheque deposited, but not yet credited by the bank is Rs. 2,000. What is the balance as per bank column of the cash book?

    (a)

    Rs 3,000 overdraft

    (b)

    Rs 3,000 favourable

    (c)

    Rs 1,000 overdraft

    (d)

    Rs 1,000 favourable

  9. Which one of the following is not a timing difference?

    (a)

    Cheque deposited but not yet credited

    (b)

    Cheque issued but not yet presented for payment

    (c)

    Among directly paid into the bank

    (d)

    Wrong debit in the cash book

  10. ________________can also be made through bank

    (a)

    Payments

    (b)

    Receipts

    (c)

    Both

    (d)

    None of these

  11. ___________is not possible to have unfavourable cash balance in the cash book.

    (a)

    Bank statement

    (b)

    Bank overdraft

    (c)

    Cash overdraft

    (d)

    Cash book

  12. _______________can be prepared either from the balance as per cash book or bank statement.

    (a)

    Bank reconciliation statement

    (b)

    Financial Statement

    (c)

    Fund flow analysis

    (d)

    None of these

  13. When balance as per Cash book is the starting point, to ascertain balance as per Pass book interest allowed by bank is______________

    (a)

    subtracted

    (b)

    added

    (c)

    not adjusted

    (d)

    adjusted

  14. When balance as per Cashbook is the starting point to ascertain balance as per Pass book interest charged by bank is__________________

    (a)

    added

    (b)

    subtracted

    (c)

    not adjusted

    (d)

    none of these

  15. A bank reconciliation statement is prepared to know the causes for the difference between:

    (a)

    The balance as per the cash column of the cash book and bank column of the cash book

    (b)

    The balance as per the cash column of the cash book and bank statement

    (c)

    The balance as per the bank column of the cash book and the bank statement

    (d)

    The balance as per petty cash book and the cash book

  16. Part B

    Answer all the Two Mark Questions

    5 x 2 = 10
  17. What is bank reconciliation statement?

  18. State any two causes of disagreement between the balance as per bank column of cash book and bank statement.

  19. Give any two expenses which may be paid by the banker as per standing instruction.

  20. Who prepares a bank statement?

  21. On 3rd, December, Magesh issued his savings bank account cheque for his personal expenses amounting to Rs 2,500, but Dinesh assumed this as current account cheque and the same was entered in the cash book as drawings.

  22. Part C

    Answer all the Three Mark Questions

    5 x 3 = 15
  23. What is meant by the term "cheque not yet presented?"

  24. Explain why does money deposited into bank appear on the debit side of the cash book, but on the credit side of the bank statement?

  25. What will be the effect of interest charged by the bank, if the balance is an overdraft?

  26. State the timing differences in BRS with examples.

  27. Prepare bank reconciliation statement as on 31st December 2017 from the following information:
    (a) Balance as per bank statement (pass book) is Rs.25,000.
    (b) No record has been made in the cash book for a dishonour of a cheque for Rs.250.
    (c) Cheques deposited into bank amounting to Rs.3,500 were not yet collected.
    (d) Bank charges of Rs.300 have not been entered in the cash book.
    (e) Cheques issued amounting to Rs.9,000 have not been presented for payment.

  28. Part D

    Answer all the Five Mark Questions

    2 x 5 = 10
  29. From the following information, prepare bank reconciliation statement to find out the bank statement balance as on 31st December, 2017.

    Particulars Rs
    1. Balance as per cash book 15,000
    2. Cheques deposited but not yet credited 1,000
    3. Cheques issued and entered in the cash book before 31st December 2017 but not presented for payment until that date 1,500
    4. Dividend directly received by bank 200
    5. Direct payment made by bank for rent 1,000
    6. Locker rent charged by the bank not recorded in cash book 1,200
    7. Wrong debit given by the bank on 30th December 2017 500
    8. A payment made through net banking has been entered twice in the cash book 300
  30. The cash book of Dhandapani showed an overdraft of Rs 15,000. The cash book entries were checked with the entries in the pass book. The following details were disclosed. Prepare a Bank reconciliation statement to show the Bank Balances as per pass book as on 30th June, 2013.
    a) Out of the four cheques issued on 27th June, 2013 for Rs.21,000, two cheques for Rs 12,000 alone were presented for payment on 29th June, 2013.
    b) Cheques paid into the Bank amounted Rs. 17,800. But the Bank had not cashed and credited in the pass book before that date.
    c) There was an entry on the debit side of the pass book for bank charges, Rs 150.
    d) The Bank had also debited the account for interest on O/D for Rs 280.
    e) It was also noticed that the Bank had paid Rs 2,750 as insurance premium as per standing instructions on 29th June, 2013.

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