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Punjab (PTB) · Chapter test · Free

1st Year Principles of Accounting Chapter 8 TestCash Book And Bank Reconciliation Statement

30 marks · 40 minutes · 21 questions. Covers: CHAP 8: Cash Book And Bank Reconciliation Statement.

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1st Year Principles of Accounting Chapter 8 Test

1st Year · Principles of Accounting · Punjab (PTB)

Name: ____________Roll No: ________Class/Section: ________Date: ________Total marks: 30Time: 40 minutes

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

  1. The cash book is a:

    1. Subsidiary journal

    2. Ledger account

    3. Subsidiary journal and ledger

    4. Trial balance

  2. The term impress system is used in relation to:

    1. Cheque book

    2. Pay-in-slip book

    3. Cash book

    4. Petty cash book

  3. A customer cheque returned dishonored is recorded in:

    1. Return outward book

    2. Return inward book

    3. Bill receivable book

    4. Cash book

  4. The money can be deposited into bank by means of:

    1. Cash book

    2. Cheque book

    3. Pay-in-slip book

    4. Pass book

  5. Cheques received from debtors but not collected by the bank are called:

    1. Dishonored cheques

    2. Uncredited cheques

    3. Unpresented cheques

    4. None of these

  6. Received a cheque from Bilal Rs 1900 in full settlement of his debt Rs2000 should be debited to:

    1. Cash account

    2. Discount account

    3. Bank account

    4. Both a,b

  7. If receipt side of the cash book is under casted by Rs: 300, when overdraft as per bank statement is the starting point:

    1. Rs: 300 will be deducted

    2. Rs: 300 will be added

    3. Rs: 600 will be deducted

    4. Rs: 600 will be added

  8. When cash is received from debtor or customer, generally a receipt is issued to the debtor which is called:

    1. Payment voucher

    2. Receipt voucher

    3. Cash voucher

    4. None of these

  9. A statement which is used to reconcile the bank balance as per cash book with the balance as per pass book is called:

    1. Bank statement

    2. Income statement

    3. Bank reconciliation statement

    4. Financial statement

  10. The debit balances of cash and bank accounts in cash book are called:

    1. Income

    2. Liabilities

    3. Expenses

    4. Assets

Q2. Short questions (Attempt any 6 of 8 · 6 × 2 = 12)

  1. Define unpresented cheque.

  2. How many books does a banker give to the customer at the time of first deposit?

  3. Define “Voucher”.

  4. Which books are issued by the bank to its customers at the time of opening bank account.

  5. What will be the favorable balance and unfavorable balance in each book & pass book?

  6. What is current account.

  7. Define double column cash book.

  8. What are two major functions of bank?

Q3. Long questions (Attempt any 2 of 3 · 2 × 4 = 8)

  1. From the following particulars prepare a Bank reconcililation Statement of Mr. Irfan as on 31st March 2022 with the help of a revised cash book:

    (a) Bank overdraft as per the Cash Book Rs. 24,000
    (b) Rs. 80,000 worth of cheques were sent for collection and only Rs. 50,000 worth of cheques were collected up to 31st March
    (c) Out of cheques for Rs. 60,000 issued in March. Cheques of Rs. 36,000 were presented for payment
    (d) Bills discounted with the bank and dishonoured Rs. 60,000
    (e) A cheque for Rs. 10,000 entered in Cash Book (debit side) was not sent to the Bank for collection
    (f) Discount received Rs. 500 was entered in the Bank Column erroneously.

  2. Prepare a Petty Cash Book on the Imprest system from the following transactions.

    Jan 01, 2022:    Received Rs. 1,000 from the Chief Chaier for Petty Cash.
    Jan 02, 2022:    Paid bus fare Rs. 20.
    Jan 02, 2022:    Paid cartage Rs. 40.
    Jan 03, 2022:    Paid for postage and telegrams Rs. 90.
    Jan 03, 2022:    Paid Wages to casual laborers Rs. 100.
    Jan 04, 2022:    Paid for stationary Rs. 130.
    Jan 04, 2022:    Paid bus fare Rs. 70.
    Jan 05, 2022:    Paid for repair of chairs Rs. 200.
    Jan 07, 2022:    Paid cartage Rs. 170.
    Jan 07, 2022:    Paid for postage and telegrams Rs. 120.

  3. From the under mentioned particulars, prepare a Bank Reconciliation Statement under double balance method as on 31st March, 2022.

    (a) Bank Overdraft as per the Bank Statement Rs. 9,200
    (b) Overdraft as per cash book Rs. 21,200
    (c) Cheques for Rs. 20,800 were issued in March, out of which those for Rs. 8,000 only were presented up to 31st March
    (d) A cheque for Rs. 2,000 was deposited into the bank but was wrongly recorded on the credit side of the Cash Book
    (e) The credit side of the Cash Book was under cast by Rs. 3,200
    (f) A cheque for Rs. 1,800 was debited twice in the Cash Book