What is bank reconcilation a/c
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Answer / sangeethag
Bank reconcilation is comparison of cash book and bank stmt
to tally our balance with bank stmt. bank charges and
interest we have to record in our book to match the bank
stmt.
| Is This Answer Correct ? | 20 Yes | 2 No |
Bank reconcilation statemet is statement it reconciles the
bank balance in the book of organisation with bank
statement. It prepares depent on accounting department.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / rosecindrella
A BRS IS DEFINED AS A STATEMENT OF PREPARD BY PERIODIC
INTERVAL.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / prem
Bank reconciliation is matching of bank statement and firm's bank balance.
Ex.-- If bank statement bal. Is 49000/-(dr.)In 31st march and if our check given in 31st march rs. 7000/- to any party so our balance should be 56000/- in our account as on 31st march,because 31st march dated check will be cleared in aprl.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / viswanatha reddy
What happens here is withdrawls from the bank exceed
deposits. The lending institution, usually the bank, would
allow an extension of credit in such a case. The company is
usually expected to pay within short-term and it results in
negative balance in company's bank account. That is the
reason for the overdraft being classified as a current
liability.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / viswanatha reddy
What happens here is withdrawls from the bank exceed
deposits. The lending institution, usually the bank, would
allow an extension of credit in such a case. The company is
usually expected to pay within short-term and it results in
negative balance in company's bank account. That is the
reason for the overdraft being classified as a current
liability.
| Is This Answer Correct ? | 2 Yes | 8 No |
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