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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

Sana sis  soon i will be upload

plz share your answers.

remember me in prayerss

Attachments:

Tehreem thanks for sharing 

 welcome sir

if you plz explain how you calculated que no.2

sis see

jase plus minus (minus)hota

same accounting k b rule hoty

Debit Credit b Credit hota mean less hoga

My 1st and 2nd question is not correct.

Assignment No.

 

 

Question No.1

 

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

 

 

                       Bank Reconciliation Statement

                             As on 31st December 2014..

 

Particulars

Amount Rs.

Balance as per bank statement (Debit)

Add: Un-Presented Cheque

 

10,000

+3000

 

Balance as per cash book (Credit)

13000

 

 

Question N.2

 

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

 

Particulars

Amount Rs.

Favorable balance as per bank statement (Credit)

Add: Un-Presented Cheque  

 

12,000

 

+4000

Balance as per cash book

8,000

 

 

 

 

 

 

 

Question N.3

 

 

 

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

 

Particulars

Amount Rs

Balance As per Cash Book (Debit)

Add: Un –Presented Cheque

Add: Cheque Rs 545 Sent to customer has been recorded in cash book As Rs 445.

 

 

20,000

500

 

100

 

Balance As per Cas h Book

20600

 

 

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