What is bank reconciliation ?
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Bank reconciliation is a statement, perpared by an
organisation to reconcile the cash at bank in its own
records with the particuler bank statement on a particular
period.itis made at the end of the month.mainly the
diffrences between the two records on a particular period
may be arise due to the following:
1 cheques drawn but not yet presented in the bank.
2 cheques received but not yet deposited in the bank.
3 bank charges debited but not recorded in the
organisation's books.
4 interest credited but not recorded in the books of
organisation's books.
Is This Answer Correct ? | 18 Yes | 0 No |
Answer / rasheed
IT is a statement which is prepared by a Trader..to find the
difference between cash book and passbook......
Is This Answer Correct ? | 1 Yes | 0 No |
Answer / thiyaguhih
So many Reasons for difference between the company books and Bank passbook, Hence we make reconcile both of books.
Is This Answer Correct ? | 2 Yes | 2 No |
Answer / tushar
bank reconciliation is statement not a ledger .it's showing the cause of difference in the balance of bank as per cash book and balance as per passbook for particular time or on particular date
Is This Answer Correct ? | 0 Yes | 0 No |
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(a) Rajesh Ltd. gives you the following information for the year ended 31st March, 2006: (i) Sales for the year Rs. 48, 00, 000. The Company sold goods for cash only. (ii) Cost of goods sold was 75% of sales. (iii) Closing inventory was higher than opening inventory by Rs.50,000. (iv) Trade creditors on 31.3.2006 exceed the outstanding on 31-3.2005 by Rs. 1, 00, 000. (v) Tax paid during the year amounts to Rs. 1, 50, 000. (vi) Amounts paid to Trade creditors during the year Rs. 35, 50, 000. (vii) Administrative and Selling expenses paid Rs. 3, 60, 000. (viii)One new machinery was acquired in December, 2005 for Rs. 6, 00, 000. (ix)Dividend paid during the year Rs. 1,20, 000. (x)Cash in hand and at Bank on 31.3.2006 Rs. 70, 000. (xi) Cash in hand and at Bank on 1. 4.2005 Rs. 50, 000. Prepare Cash Flow Statement for the year ended 31.3.2006 as per the prescribed Accounting Standard. (b) Define the teen "Operating Activities", "Investment Activities" and "Financing Activities" as per NA S-3 Send me this question answer in my mail Address please help me to how solve the question ( deepakgaire@gmail.com) plese plese
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