Interested to Buy Any Domain ? << Click Here >> for more details...
what is bank reconciliation?what is reconciliation of
account and what type of accounts maintain in colleges?
- 3 Answers
- 6678 Views
- Mphasis, I also Faced
- E-Mail Answers
Answer Posted / barun
bank reconcilation is way to find out outstanding balance
for any A/c is match with the amount you spand these two
value must match at the end of transection.
confused......
ok
example-you have icici bank A/c-you deposit -rs 1000
next day you withdrawl 300
next day deposit 500
again next day withdrwl 1000
at the end of month outstanding balance=total(deposit)-total
(withdrowl)
i.e os balance=(1000+500)-(300+1000)=200
at the end of month bankers cheking the amount with bank
statment it is correct or not with your a/c.
ie is reconcilation.
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
1. how to pass TDS entry in tally 2. how to pass service tax entry in tally 3. how to pass depreciation entry in tally 4. what is percentage in TDS and service tax
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
{in tally}in inventory info what is (stock group, stock categori, stock item,reorder levels) why we has to prepare them?
Define dual aspect term in accounting?
how to account branches in tally
Tell me as a higher position in the accounting department, you will be responsible for overseeing other employees' accounts. What experience do you have in leadership and management that will prepare you for this responsibility?
Explain me what is assets minus liabilities?
Journalise- opened a saving a/c with S.B.I. ?
What is the difference between provision and reverse?
the bank returned S meyer cheque for R450. the cheque has been dishounerd because of insufficient funds, discount of R50 was allowed the account was settled
What are the difference between Debit Memorandum and Credit Memorandum?
What is the difference in accounting and marketing and what is so different about them?
A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500
what is journal entries for Vehicle loan settled with bank after Sale of the vehicle on profit or loss in case the party paid check direct to Bank .......???
What is cost accountancy? What are the objects of cost accountancy?
