Professional Documents
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CLASS EXERCISES-SESSION-8
(For course instructor Guidance)
Learning Objective:
Preparation of Reconciliation Statement under Direct method and adjusting entries.
Q No.1 Shown below is the information needed to prepare a bank reconciliation statement for D
Bros. on Aug. 31,2002
Instruction
Prepare Bank Reconciliation Statement on Aug 31, 2002.
Prepare adjusting entry in General Journal.
Q No.2: Shown below is the information needed to prepare a bank reconciliation statement for
Hamid Bros. at Aug 31,2002
Instruction
Prepare Bank Reconciliation Statement at Aug 31, 2002
Q No.3: Shown below is the information needed to prepare a bank reconciliation statement for
Hamid Bros. at Sep 30,2002
No. amount
621 $950
643 2000
Instruction
Prepare Bank Reconciliation Statement at Sep 30, 2002
Q No.4
The Sep 30 balance in the Cash Book is Rs. 33000.
Bank statement showing balance of Rs. 32,200.
Instruction
Prepare Bank Reconciliation Statement at Sep 30, 2002
Q No.5 The Mehfooz company had cash balance of Rs.42,800 on August 31,2002 while the
bank statement showed a credit balance of Rs.39,360 on the same date.
Instruction
Prepare Bank Reconciliation Statement on Aug 31, 2002
Q No.6
On comparison of cash book entries with those of the Bank statement of Masood company on
June 30, 1996, the following differences were found:
Cash book balance (Dr) Rs. 15,000
Bank statement balance (Dr) Rs.20,000
1. A cheque for Rs. 14,500 deposited inot bank was wrongly entered into bank statement as
Rs. 5100
2. Mark up charged by bank Rs. 600
3. Cheque of Baber & Co. for Rs. 3500 has marked Not sufficient fund and returned by
bank.
4. A cheque drawn for purchases of equipment Rs. 4000 but was recorded by company Rs.
2500
5. A customer cheque for Rs. 8600 deposited directly in Bank was by mistake entered into
cash column of cash book.
6. Total uncleared cheque s amounted Rs. 30,000
7. Cheque issued Rs. 10,000 but presented for cash Rs. 5800 into bank.
8. Bank paid a not-interest bearing Note for Maqsood company account Rs. 3000 was not
recorded in cash book
9. A cheque Rs. 2000 drawn by Maqbool company was wrongly debited by bank to
Maqsood company account
10. Dividend collected by bank but was not recorded in cash book Rs. 2200
Instruction
Prepare Bank Reconciliation Statement on Aug 31, 2002
Q No.7
Q A comparison of Cash and Bank records of Khalid revealed the following information on 31st
April, 2003.
11 Cash deposit into bank Rs. 6000 but recorded in cash book Rs. 600
12 Late deposits of Rs. 7200 on the last day did not appear in the bank statement.
Q No.8
Q No.9 The Mehfooz company had cash balance of Rs.42,800 on August 31,2002 while the
bank statement showed a credit balance of Rs.39,360 on the same date.
Instruction
i. Prepare Bank Reconciliation Statement on Aug 31, 2002
ii. Adjusting entries