TS Grewal Class 11 Accountancy Solutions Chapter 9 – Bank Reconciliation Statement 2023

TS Grewal Class 11 Accountancy Solutions Chapter 9, discusses the bank reconciliation statement and its concepts. which is defined as the statement prepared with the purpose of reconciling the difference between the Cashbook and passbook. You can esaily donwload free PDF for TS Grewal Class 11 Accountancy Solutions Chapter 9 – Bank Reconciliation Statement.

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TS Grewal Class 11 Accountancy Solutions Chapter 9

Detailed Explanation for TS Grewal Class 11 Accountancy Solutions Chapter 9

TS Grewal Class 11 Accountancy Solutions teaches students the difference between the balances of passbook and cash book in this chapter of bank reconciliation.

It is mentioned above how tallying both the books is important, yet there are cases when it doesn’t happen. So TS Grewal has mentioned below the seven reasons for it.

1. Because of the time gap between the transactions.
2. Because of mistakes made while recording the transaction.
3. Any direct debit from the customer’s side, made by the bank.
4. Paid a cheque to the bank, which isn’t clear yet.
5. The deposited cheque as well as the discounts made.
6. Any error or mistake made from the bank/company’s side.
7. Any cheque or amount deposited in the bank by an account holder or someone else.
8. Some of the errors are made from the side of the bank or the company cash book, which are mentioned below:
9. An error can take place, by the company, during transaction registration.
10. An error can take place, by the bank, during transaction registration.

The reason behind the time difference between transactions, explained in the TS Grewal Class 11 Accountancy Solutions, is mentioned below:

• Cheques issued by the bank, but not presented in the bank yet.
• Direct deposit in the bank, made by the customer.
• Bank commission and charges charged by the bank.
• Cheque paid but dishonored by the bank.
• Interest charged by the bank on the overdraft.
• Direct payment made on the behalf of a customer.
• Cheque paid, but not credited by the bank yet.

It is mandatory to prepare a bank reconciliation statement on a periodical basis, to keep and check and record all the transactions made by a customer. But there is no fixed date to prepare a reconciliation statement.

TS Grewal Class 11 Accountancy Solutions has mentioned the following reasons to show why preparing a bank reconciliation statement is mandatory.

1. During the transactions, errors can be made, which are located by the reconciliation statement. It makes their rectification easier.
2. It facilitates the preparation of revised cash. For an instance, direct payment and interest allowed by the bank on the account of a customer, previously omitted, will now be recorded by the cash book.
3. Helps to save money by identifying subscriptions that are being charged, every month. Example: Credit card fee is charged monthly, without prior information.

TS Grewal Class 11 Accountancy Solutions Chapter 9 – Bank Reconciliation Statement: Sample Questions 

Sample question 1:

Prepare a bank reconciliation statement from the information given below:

Cash at bank shown in the cash book, Rs. 75,000. Cheque drawn, but not yet presented.

S. Sahai	Rs. 2,000
Manmohan	Rs. 3,000

Cheque paid to the bank, but not yet credited. Bank charges not yet entered into the cash book, Rs. 100.

Answer:

Bank reconciliation statement from the given information:

S. No.	Particulars	Plus items (Add) (Rs.)	Minus items (Less) (Rs.)
	Balance as per the cash book	75,000
1.	Cheques Rs. 2,000 and 3,000 drawn to S. Sahai and Manmohan resp., but not presented for payment.	5,000
2.	Cheques paid to the bank, but not presented		1,900
3.	Bank charges not entered into the cash book yet		100
	Balance as per the passbook	80,000	80,000

 Credit balance as per the passbook, Rs. 78,000.

We have included complete information regarding the CBSE TS Grewal Class 11 Accountancy Solutions Chapter 9 – Bank Reconciliation Statement. If you have any questions, feel free to ask in the comment box.

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