Interested to Buy Any Domain ? << Click Here >> for more details...
What is Bank Reconcilation Statement?
- 13 Answers
- 28086 Views
- First Midwest Bank, IBM, I also Faced
- E-Mail Answers
Answer Posted / ishav
when the accounts for the same trasactions are mainted at
two differennt places, there is bound be a differnce
between the balance of them, and anylizing the reasons for
such difference is known as reconciliation.
Now Bank Reconcilitaion Statement
Records for the bank related transactions are maintained at
our end & bank's end & and at the end of a particular
period there may be some differnce in the balance as per
our records and bank's record due to 2 mains reasons
1.) Entries recorded in our books and not in Bank Records
2.) Entries recorded by Bank and not recorded by us.
Now analyzing such reasons and presenting them in a legible
format is Bank Reconciliation Statements.
| Is This Answer Correct ? | 22 Yes | 0 No |
Post New Answer View All Answers
someone plz plz plzz.. send me the sample papers for SBI clerical xams... i need it very badly..
I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
How are fund-raising and publicity and management and administration costs apportioned over funds?
Hi Iam Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Officer's post. Please help me I f u can. thanx in advance
what are valuation accounts?
what is organic profit? and how it is calculated?
how there prepare bank interview
What is the mening of uidnvhe.?
Fiscal year variant F1 has 6 posting periods and fiscal year variant F2 has 4 posting periods. The posting have different start and ending dates.assign posting period variant F1 is assigned to leading ledger (0L) and F2 is assigned to the non-leading ledger(N1). You get an error message when making a posting in the non-leading ledger.?( any 1 answer) • The posting period variant of the non-leading ledger and the leading are different • The fiscal year variant of the non-leading ledger and the leading ledger are different • The posting is being made in a special period, but both variants are examples of a shortened fiscal year • The posting period for the non leading ledger group”N1” is closed
what is mba tell me the more benefits in mba
what is undisclosed profit? explain
What's the meaning of Preferential Creditor?
Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance
What are the legal entities that constitute your business? Does a legal entity have a seperate Federal Tax Id? In which country does a legal entity operate? In which currency does a legal entity operate? When does each legal entity's fiscal year begin?
