Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / h.r. sreepada bhagi
It's the statement prepared periodically to make note of the
transactions that cause difference between the balance as
per the books of the company & the bank statement.
There may be some transactions entered in company's books,
but not appearing in the bank statement or vice-versa.
Necessary entries have to be passed in the books to account
any transaction that's left out by oversight or correction
of entries, if any entries are missing. This will also help
in noticing & taking necessary action, if the bank has
committed any mistake or entered any unrelated transactions.
BRS can be prepared daily, weekly or monthly depending up on
the volume of transactions.
| Is This Answer Correct ? | 27 Yes | 0 No |
Post New Answer View All Answers
If A Company pays amount thru bank for a supplier deducting tds on behalf of B company. Accounting entries to be made in company A and B
under which head should be the p & l appropriation a/c should be opened in tally 9? and how to preapare and display it?
Explain what does financial statement of the company includes?
Mohan sold goods on 1st sep 2009 for the rs 200000/- to sohan immediatly accepted a 3 month bill.on the due date sohan request for the renewal of the bill for further peirod of two month .mohan agree to pay interest @9% per annum to be inculuded in the new bill . determine the amount of new bill?
Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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 .......???
difition of reserve & surplus
How to make a vat entry in books including setoff?
Who owns the general ledger?
When a merchant sales of goods included/charged on packaging charges ,cartages and insurance;i.E :-Indirect income/revenue income and indirect expense/revenue expenditure. Plz suggeste me correct answer.Through messages,mail .
What is finance lease? What are bonus Shares? entry for it. What is Depreciation? What is the Journal Entry? What is DPS? What is minority Interest? where it is shown?
Fundamental accounting assumptions are (a) Materiality. (b) Business entity. (c) Going concern. (d) Dual aspect
What do you mean by balancing of ledger account?
WHAT IS OPERATING CYCLE?
What is "deposit in transit"?
