NCERT Solutions Class 11 Accountancy Chapter 5 Bank Reconciliation Statement have been provided below and is also available in Pdf for free download. The NCERT solutions for Class 11 Accountancy have been prepared as per the latest syllabus, NCERT books and examination pattern suggested in Class 11 by CBSE, NCERT and KVS. Questions given in NCERT book for Class 11 Accountancy are an important part of exams for Class 11 Accountancy and if answered properly can help you to get higher marks. Refer to more Chapter-wise answers for NCERT Class 11 Accountancy and also download more latest study material for all subjects. Chapter 5 Bank Reconciliation Statement is an important topic in Class 11, please refer to answers provided below to help you score better in exams
Chapter 5 Bank Reconciliation Statement Class 11 Accountancy NCERT Solutions
Class 11 Accountancy students should refer to the following NCERT questions with answers for Chapter 5 Bank Reconciliation Statement in Class 11. These NCERT Solutions with answers for Class 11 Accountancy will come in exams and help you to score good marks
Chapter 5 Bank Reconciliation Statement NCERT Solutions Class 11 Accountancy
NCERT Solutions class 11 Accountancy Chapter 5 Bank Reconciliation Statemen. NCERT book for Accountancy in class 11 is strongly recommened by teachers and the CBSE and NCERT boards. Please download the NCERT solutions for class 11 Accountancy free in PDF made by teachers of the best schools in India. These solutions are carefully compiled to give detailed understanding of the concepts and also steps of solutions. The NCERT solutions are free to download in pdf format. Please refer to the download link below to download the pdf file and also refer to other chapters and subjects to get the solutions to Accounts NCERT book questions and exercises.
Q1. State the need for the preparation of bank reconciliation statement?
Solution: The need and importance of the bank reconciliation statement are as follows:
It ensures accuracy of the balances and records shown by the pass book and cash book.
It detects the errors which might have occurred in a cash book in connection with bank transactions and helps in rectifying those errors.
Regular preparation of bank reconciliation statement helps in prevention of frauds.
It detects any undue delay caused during the recording of transactions or collection of cheques.
This helps in taking appropriate action to prevent any further delay.
It keeps a check on the accuracy of entries made in both the books.
It helps in updating the cash book as per the pass book.
Q2. What is a bank overdraft?
Solution: When a firm or an account holder withdraws excess amount over the available bank balance, the account, then, runs a negative bank balance. The negative balance is called a bank overdraft. In other words, bank overdraft is the excess of withdrawals over deposits and is considered a liability to an account holder.
Q3. Briefly explain the statement ‘wrongly debited by the bank’ with the help of an example.
Solution: The statement ‘Wrongly debited by the bank’ is alleged when the bank wrongly debits the customer’s account. A wrong debit reduces the account balance of the customer. Wrong debits occur when a transaction is wrongly recorded or when incorrect amount is debited from an account. Such errors can occur in the following two cases:
A person has more than one account in a bank: A cheque of Rs.4,000 issued from his/her savings account was wrongly paid through his/her current account.
Amounts of cheques are wrongly recorded: A cheque payment of Rs.60,000 was wrongly debited in the pass book as Rs.6,000.
Please click on link below to download NCERT Solutions class 11 Accountancy Chapter 5 Bank Reconciliation Statement.
| NCERT Solutions Class 11 Accountancy Chapter 1 Introduction to Accounting |
| NCERT Solutions Class 11 Accountancy Chapter 2 Theory Base of Accounting |
| NCERT Solutions Class 11 Accountancy Chapter 3 Recording of Transactions 1 |
| NCERT Solutions Class 11 Accountancy Chapter 4 Recording of Transactions 2 |
| NCERT Solutions Class 11 Accountancy Chapter 5 Bank Reconciliation Statement |
| NCERT Solutions Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors |
| NCERT Solutions Class 11 Accountancy Chapter 7 Depreciation Provisions and Reserves |
| NCERT Solutions Class 11 Accountancy Chapter 8 Bills of Exchange |
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NCERT Solutions Class 11 Accountancy Chapter 5 Bank Reconciliation Statement
NCERT Solutions Class 11 Accountancy Chapter 5 Bank Reconciliation Statement is available on our website www.studiestoday.com for free download in Pdf. You can read the solutions to all questions given in your Class 11 Accountancy textbook online or you can easily download them in pdf.
Chapter 5 Bank Reconciliation Statement Class 11 Accountancy NCERT Solutions
The Class 11 Accountancy NCERT Solutions Chapter 5 Bank Reconciliation Statement are designed in a way that will help to improve the overall understanding of students. The answers to each question in Chapter 5 Bank Reconciliation Statement of Accountancy Class 11 has been designed based on the latest syllabus released for the current year. We have also provided detailed explanations for all difficult topics in Chapter 5 Bank Reconciliation Statement Class 11 chapter of Accountancy so that it can be easier for students to understand all answers.
NCERT Solutions Chapter 5 Bank Reconciliation Statement Class 11 Accountancy
Class 11 Accountancy NCERT Solutions Chapter 5 Bank Reconciliation Statement is a really good source using which the students can get more marks in exams. The same questions will be coming in your Class 11 Accountancy exam. Learn the Chapter 5 Bank Reconciliation Statement questions and answers daily to get a higher score. Chapter 5 Bank Reconciliation Statement of your Accountancy textbook has a lot of questions at the end of chapter to test the students understanding of the concepts taught in the chapter. Students have to solve the questions and refer to the step-by-step solutions provided by Accountancy teachers on studiestoday to get better problem-solving skills.
Chapter 5 Bank Reconciliation Statement Class 11 NCERT Solution Accountancy
These solutions of Chapter 5 Bank Reconciliation Statement NCERT Questions given in your textbook for Class 11 Accountancy have been designed to help students understand the difficult topics of Accountancy in an easy manner. These will also help to build a strong foundation in the Accountancy. There is a combination of theoretical and practical questions relating to all chapters in Accountancy to check the overall learning of the students of Class 11.
Class 11 NCERT Solution Accountancy Chapter 5 Bank Reconciliation Statement
NCERT Solutions Class 11 Accountancy Chapter 5 Bank Reconciliation Statement detailed answers are given with the objective of helping students compare their answers with the example. NCERT solutions for Class 11 Accountancy provide a strong foundation for every chapter. They ensure a smooth and easy knowledge of Revision notes for Class 11 Accountancy. As suggested by the HRD ministry, they will perform a major role in JEE. Students can easily download these solutions and use them to prepare for upcoming exams and also go through the Question Papers for Class 11 Accountancy to clarify all doubts
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