IGCSE Accounting Paper-2: Specimen Questions with Answers 32 - 34 of 189

Doorsteptutor material for Bank-PO is prepared by world's top subject experts: get questions, notes, tests, video lectures and more- for all subjects of Bank-PO.

Passage

Mr. Stanley had 2 accounts with HSBC Bank named A/c 1 and A/c 2. As on 31.12.2015, his cash book showed balances of £540 and £27040 in the two A/c’s respectively.

On examining the bank statements, the following were noticed:

(i) £ 2700 has been transferred from A/c 2 to A/c 1 by the bank without intimating Mr. Stanley.

(ii) £ 10 have been bank charges in both the accounts , which is not intimated to Mr. Stanley

(iii) Cheque for £ 542 issued on A/c 1 in November not yet presented in bank

(iv) A cheque of £ 427 deposited by Mr. Stanley in A/c 2 has been credited by bank in A/c 1

Question 32 (2 of 5 Based on Passage)

Edit

Write in Short

Short Answer▾

What is the balance in Mr. Stanley՚s A/c 1 as per HSBC bank?

Explanation

The balance of Mr. Stanley՚s A/c 1 as per bank pass book is £ 4199

Bank Reconciliation Statement of Mr. Stanley (A/C 1) as on 31.12. 2015
ParticularsAmountAmount
Bank balance as per cash book (Dr)540
Add: Transfer from A/c 2 without notice2700
Cheque issued but not presented542
Cheque deposited in A/c 2 but wrong credit in A/c 14273669
4209
Less: Bank charges in pass book but not in cash book10
Bank Balance as per pass book (Cr)4199

Question 33 (3 of 5 Based on Passage)

Edit

Write in Brief

One Liner▾

What is the need for Mr. Stanley to reconcile his bank Account?

Explanation

Mr. Stanley needs to prepare the Bank reconciliation statement, in order to reconcile the bank balance as per the cash book, by showing all the causes of differences between the two and make the respective changes.

Question 34 (4 of 5 Based on Passage)

Edit

Write in Short

Short Answer▾

What is the balance of Mr. Stanley՚s A/c 2 as per HSBC bank?

Explanation

The balance of Mr. Stanley՚s A/c 2 as per bank pass book is £ 23903

Bank Reconciliation Statement of Mr. Stanley (A/C 2) as on 31.12. 2015
ParticularsAmountAmount
Bank balance as per cash book (Dr)27040
Less: Transfer toA/c 1 without notice2700
Bank charges in pass book but not in cash book10
Cheque deposited in A/c 2 but wrong credit in A/c 14273137
Bank Balance as per pass book (Cr)23903

🎯 Select Paper 📂

🚀 Consider Exploring

Developed by: