The bank statement of a company showed a balance of Rs 42,000 on 30th Shrawan 2079. However the company balance showed a different balance of Rs…
BBA Financial Accounting · 2023 · Solved Question with Answer
The bank statement of a company showed a balance of Rs 42,000 on 30th Shrawan 2079. However the company balance showed a different balance of Rs 38,000. On the investigation, the following differences were noticed:
➢ Outstanding cheque Rs 10,000 /?
➢ Deposit in transit Rs 13,000 /?
➢ A customer's cheque of Rs 4,000 was return with the bank statement marked NSF.
➢ Collection of notes receivable for Rs 4,000 and interest on investment Rs 3,000
➢ Bank charge Rs 2,000 for the service provided by the bank
➢ A cheque of Rs 10,000 was paid by the bank. However, the company recorded Rs 16,000 in its statement.
Required: Bank reconciliation statement