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nazu1 · Jan 17, 2013, 06:34 AM

Please answer this question soon

T 's cash book showed a bank overdraft of rs.49,350 on 30sept,2012.

Out of the cheques which were issued by T on 20 sept,2012,cheques of rs.3,700 were presented to bank on 2oct 2012 for payment and a crossed cheque of rs.750 issued to mr.A was returned by him and exchange for it a bearer cheque issued to him on 1oct,2012. Cheques amounting to rs. 3,400 were deposited in the bank on 29sept,2012 but the bank had credited on 1oct,2012 cheques of rs.1300 only and one cheque of rs.250 was dishonourd and returned by them . According to T 's standing order the bank payedto his creditor interest of rs.320 on 30sept,2012, his quarterly policy premium rs.160 and second call of rs.600 on shares subscribed for by him. Bank received dividend of rs.150 and received insurance claim money rs.800 on his behalf.on all these bank expenses amted to rs.15. On receipt of the info Mr.R made necessary entries in his cash book on 1oct,2012.

His bank had wrongly credited rs.500 and wrongly debited rs.300 to hisbank a/c. prepare bank reconciliation statement in bk of Mr.T.

Thank you!

paraclete · Jan 17, 2013, 06:56 PM

This is clearly a homework assignment and you need to go to the homework section, but before that you need to have attempted the problem yourself

Start by isolating each transaction from the text of the question so you can think about how this information might affect the reconciliation between the ledger balance and the bank balance

There are two parts to a bank reconciliation

There are adjutments which need to be made to the ledger balance because transactions which form part of the bank balance have not been recorded in the ledger , and there are transactions which are outstanding at the bank or have been wrongly made by the bank and require adjustment