(a). The bank statement of a company showed a balance of Rs. 52,000 on 30th Poush 2079. However the company balance showed a different balance of Rs.…
BBS Financial Accounting and Analysis · 2080 · Solved Question with Answer
(a). The bank statement of a company showed a balance of Rs. 52,000 on 30th Poush 2079. However the company balance showed a different balance of Rs. 48,000. On the investigation, the following differences were noticed:
i. Company issued check of Rs.12,000 but during Poush only Rs.8,000 was presented to bank for payment
ii. Deposit in transit Rs.6,000
iii. EFT payment Rs.1,500
iv. Customer’s cheque of Rs.3,000 was return with the bank statement marked NSF.
v. Collection of notes and interest receivable was for Rs.8,000 and Rs.4,000 respectively
vi. Bank charge Rs.500 for the service provided by the bank
vii. A cheque of Rs.10,000 was deposited by the bank. However, the amount recorded by the company was Rs.11,000 in its statement.
Required: Bank reconciliation statement
(b) Differentiate between bond and debenture