Practice Steps to Prepare a Bank Reconciliation Statement - 3.3 | 3. Bank Reconciliation Statement | ICSE Class 11 Accountancy
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3.3 - Steps to Prepare a Bank Reconciliation Statement

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What is the first step in preparing a Bank Reconciliation Statement?

💡 Hint: Think about how to find differences first.

Question 2

Easy

What do you add to the cash book balance in the reconciliation process?

💡 Hint: What transactions have been recorded by the company but not yet by the bank?

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is the first step in preparing a Bank Reconciliation Statement?

  • Add unrecorded transactions
  • Adjust for errors
  • Compare the balances

💡 Hint: Think about identifying discrepancies.

Question 2

True or False: Outstanding checks should be added to the cash book balance.

  • True
  • False

💡 Hint: Remember the timing of these transactions.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company has a cash book balance of ₹15,000, bank statement balance of ₹18,500, deposits in transit of ₹4,000, outstanding checks of ₹3,000, and bank charges of ₹500. Reconcile the balances.

💡 Hint: Track the math step-by-step to see if the balances become equal.

Question 2

Consider a bank statement for a company that shows balances affected by unknown charges and missing deposits amounting to ₹800. Analyze the impact of these discrepancies on the final reconciliation.

💡 Hint: Think about the need for clear records and tracking every transaction.

Challenge and get performance evaluation