Bank Reconciliation Statement — Important Questions
ICSE · Class 11 · Accountancy
47 important questions from Bank Reconciliation Statement for ICSE Class 11 Accountancy, with answers. Part of the ICSE Class 11 Accountancy syllabus.
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Important Questions from Bank Reconciliation Statement
Which item is a cause of difference when a cheque has been issued but not yet presented for payment?
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Cash book shows lesser balance than pass book
A cheque issued is immediately entered in the cash book, but the bank does not debit the account until the cheque is presented. So cash book shows a lesser balance than pass book.
Which item makes the cash book balance higher than the pass book balance until it is recorded?
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Bank charges
Bank charges are deducted by the bank first, so the pass book balance becomes lower before the customer records the charge. During that time, the cash book balance is higher than the pass book balance.
Which item makes the pass book balance higher than the cash book balance until intimation is received?
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Direct deposit by debtors into bank
When debtors deposit money directly into the bank, the bank credits the account immediately, but the customer records it later. So the pass book shows a higher balance than the cash book.
Which balance is treated as favourable for the cash book?
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Debit balance
A debit balance in the cash book shows favourable balance. It means the business has money in the bank.
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