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MGT101 Financial Accounting This is to inform that a Graded Assignment No 2 will be opened on January 20, 2016 and due date of assignment submission will be January 26, 2016.

SEMESTER FALL 2015

 

FINANCIAL ACCOUNTING (MGT101)

 

 

 

 

ASSIGNMENT NO - 02

 

 

 

DUE DATE: 26th January 2016

 

MARKS: 03+03+04=10

 

TOPIC TO BE TESTED:

 

  • Bank reconciliation statement

 

LEARNING OBJECTIVES:

 

  • To understand and apply the causes of disagreement between cash book and bank statement in reconciliation process

 

QUESTIONS

 

 

Q-1

 

The debit balance of bank statement as on 31st December 2014 was Rs. 10,000. Cheques of Rs. 3,000 sent to customers had been entered in depositor’s cash book but did not appear in bank statements on 31st December 2014.

 

Required: Calculate the balance as per cash book on 31st December 2014.

 

 

 

Q-2

 

The favorable balance of bank statement as on 31st December 2014 was Rs. 12,000. Cheques of Rs. 4,000 paid into the bank had been entered in depositor’s cash book but did not appear in bank statements on 31st December 2014.

 

Required: Calculate the balance as per cash book on 31st December 2014.

Q-3

 

Balance as per cash book of a merchant as on 31st December 2014 was Rs. 20,000. Following causes of disagreement was discovered on receipt of bank statement.

 

  1. A cheque of Rs. 500 issued but not yet presented for payment

 

  1. A cheque of Rs. 545 sent to a customer has been recorded in cash book as Rs. 445.

 

Required: Calculate the balance as per bank statement on 31st December 2014.

 

 

 

 

 

IMPORTANT:

 

Grace period of extra 24 hours after the due date is usually available to overcome uploading difficulties. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.

 

IMPORTANT INSTRUCTIONS

 

  • Take help from internet for collecting the information.

 

  • Carefully watch relevant lectures and consult the relevant material from handouts along with recommended books.

 

  • Attempt the assignment by yourself and it will be entertained positively.

 

OTHER IMPORTANT INSTRUCTIONS:

 

DEADLINE:

 

  • Make sure to upload the solution file before the due date on VULMS.

 

  • Any submission made via email after the due date will not be accepted.

 

FORMATTING GUIDELINES:

 

  • Use the font style “Times New Roman” or “Arial” and font size “12”.

 

  • It is advised to compose your document in MS-Word format.

 

  • You may also compose your assignment in Open Office format.

• Use black and blue font colors only.

 

 

RULES FOR MARKING

 

Please note that your assignment will not be graded or graded as Zero (0), if:

 

  • It is submitted after the due date.

 

  • The file you uploaded does not open or is corrupt.

 

  • It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.

 

  • It is cheated or copied from other students, internet, books, journals etc.

 

 

 

Note related to load shedding: Please be proactive Dear students!

 

As you know that Post Mid-Term semester activities have been started and load shedding problem is also prevailing in our country now a days. Keeping in view the fact, you all are advised to post your activities as early as possible without waiting for the due date. For your convenience; activity schedule has already been uploaded on VULMS for the current semester, therefore no excuse will be entertained after due date of assignments, quizzes or GDBs.

 

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Replies to This Discussion

Mere pas assignment file open ni ho rahi ha error a rahe ha kindly koi upload kar de

ye pdf file hai bro ap pdf reader ka software install kr ky upload krien

balance of bank statement as on 31st December 2014 dr 10,000

sent to customers had been entered in dr 3,000
depositor’s cash book but did not
appear in bank statements on 31st December 2014.
-----------
dr 13,000

favorable balance of bank statement as on 31st December 2014 cr 12,000

Cheques of Rs. 4,000 paid into the bank cr 4,000
had been entered in depositor’s cash book
but did not appear in bank statements
on 31st December 2014. --------------
16,000

balance ------------------- (dr)20,000
NON PRESENTED...............(DR) 500
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,--------
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,20,500
A cheque of Rs. 545 sent to a customer has been recorded in cash book as Rs. 445..........................(DR)100
--------------------------)))))-------
******************************* 20600

KIYA YE TINO CORRECT HYN.????????

In the assignment file the requirement is written as balance as per cash book, should it not be balance as per bank book?

As cash book is only for cash transaction whereas, bank book is for bank related transaction.

atika...........gud....yeh 3 app nay bilkul thek kiye hain....sub cheez ka dehan rakhtey hoye kisi kisam ki ghalti nahin kii

1st 2 mai back ward solution hai 1st ka ans cr 7000 hai. 2nd ka ans cr 16000 hai.3rd ka i think cr 20400........

mere khyal se 20,000 dr. hai es main unpresented dr. hoga 20,000+500=20500 and 545 cash gya ha to cr. kr dia per likh 445 dia es lye 100 rs. minus hoga mtlb cr. 20500-100=20400

Wrong ha

less Un-Presented Cheques Cr (3000)

Balance As per Cash Book Cr =7000

un presented Dr. hota ha kiu rule khrb kr rhy ho accounting k.

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