Answer Posted / sunil kumar
Bank reconcilation statement
When will the bank balance and pass book balance showing at that time the the brs was prepared for example chaque was draw by bank but the bank was credited by after 2&3days but the thinks my balance credits at that time
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I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
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