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प्रश्न
What is bank reconciliation statement?
What is meant by a Bank Reconciliation Statement in accounting?
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उत्तर
If every entry in the cash book matches with the bank statement, then the bank balance will be the same in both records. But, practically it may not be possible. When the balances do not agree with each other, the need for preparing a statement to explain the causes arises. This statement is called a bank reconciliation statement (BRS).
संबंधित प्रश्न
Give one word/term/phrase which can substitute the following statement:
The account on which overdraft facility is allowed by bank.
Give one word/term/phrase which can substitute the following statement:
Excess of bank deposits over withdrawals by businessman in bank current account.
Do you agree or disagree with the following statement:
Bank Reconciliation Statement is prepared only during the year end.
Do you agree or disagree with the following statement:
Bank Reconciliation Statement is similar to bank statement.
Complete the following statement:
A statement showing the reasons for difference in Cash Book balance and Pass Book balance is known as ___________.
Credit balance as per bank statement is an overdraft.
Give any three reasons for preparing bank reconciliation statement.
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹20,000.
- A cheque for ₹3,500 was issued and paid by bank, recorded in Pass Book as ₹5,300.
- Cheque deposited ₹9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹100.
- Electricity bill paid by bank ₹6,200 was recorded twice in Pass Book.
From the following particulars prepare Bank Reconciliation Statement as on 30th June 2019.
- Credit balance as per Pass Book ₹ 20,000.
- A cheque for ₹ 3,500 was issued and paid by bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by bank was not recorded in Cash Book.
- Payment side of Cash Book was undercast by ₹ 100.
- Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.
From the following particulars prepare Bank Reconciliation Statement as of 30th June 2019.
- Credit balance as per pass book ₹ 20,000.
- A cheque for ₹ 3,500 was issued and paid by the bank, recorded in Pass Book as ₹ 5,300.
- Cheque deposited ₹ 9,700 collected by the bank was not recorded in Cash Book.
- Payment side of the Cash Book was undercast by ₹ 100.
- Electricity bill paid by bank ₹ 6,200 was recorded twice in Pass Book.
