Interested to Buy Any Domain ? << Click Here >> for more details...
How bank reconciliation statement is prepared
- 3 Answers
- 7121 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ram poudel
Bank Reconciliation statement is perpared Bank Statement
and Maintened account with bank
Our Books Balance
Add: Amt Cr By us But Not dr By Bank
ADD: Amt Cr by bank But not dr by us
Less: Amt dr by bank But not Cr By us
Less: Amt Dr By bank But Not Cr By Us
Bank Balance
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / murali koda
Hi Friends.
The following procedures are followed while preparing the
bank reconciliation statement:
* Compare cash book and pass book items.
* Give sign to all the items of cash book and pass book
which are matched with each other.
* Make a list of unmatched items found in cash book and pass
book.
* Prepare bank reconciliation statement taking balance
either from cash book or pass book as a basis.
* Adjust the items which cause the disagreement in the
balances. Add the items which have decreased the balance on
the book with which reconciliation is to be made. On the
contrary subtract the amount of those items which have
increased the balance.
These procedures should be followed only when the cash book
and pass book are to be compared. But if causes of
differences are already given, the above procedures need not
be followed.
If the causes of disagreement between the cash book and pass
book balances are given, the bank reconciliation statement
can be prepared either by taking the balance of cash book or
pass book. The bank reconciliation statement can be prepared
by using either of the following bases.
* Debit balance shown by cash book
* Credit balance shown by cash book (bank overdraft)
* Credit balance shown by pass book
* Debit balance shown by pass book (bank overdraft)
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / harsh
Bank Reconciliation statement is perpared Bank Statement
and Maintened account with bank
Our Books Balance
Add: Amt Cr By us But Not dr By Bank
ADD: Amt Cr by bank But not cr by us
Less: Amt dr by bank But not Cr By us
Less: Amt Dr By bank But Not Cr By Us
Bank Balance
| Is This Answer Correct ? | 6 Yes | 5 No |
what is share
3, SURVEY EXPENSES FOR MARINE INSURANCE CLAIMS MUST BE A, addedto claim B, added to legal charges c, added to administrative expenses d, none of the above
Goods sold by Del Credere Agent are sales of manufacturer or Del Credere Agency?
M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances
how to calculate accrued interest on fdr?how to see from bank statement????basic procedure plz advice..
Explain me what is important to effective market analysis?
What is Venture Capital ?
India me ,suppose that hmare pass 190000 Rs hai,to kitna tax lgega,or kis heshab se lgega,
sir, i m working in an ngo as accountant but new. pleas clear my doubt in tally. suppose 'a' salary is 5000. he taken 3000 advance from salary and not returned. i paid a cheque next month rest 2000. 'b' salary is 10000, taken 5000 advance from salary and returned so i paid him 10000 total salary. what all to do in tally. is the following procedure is ok or not?
HOW TO CALCULATE VAT, INCOME TAX , ESI , PRO.TAX. P.F,
what is the definition of dual reporting in view of global market?
How to calculate PF with example
18 Answers manappuram, Meta Arch, The Chennai Silks,
Audit 
