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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
Answer in one sentence:
Why is the Bank Reconciliation Statement prepared?
Give one word/term/phrase which can substitute the following statement:
Excess of bank deposits over withdrawals by businessman in bank current account.
Select the most appropriate alternative from those given and rewrite the following statement:
Bank Reconciliation Statement is prepared by _________.
State whether the following statement is True or False with reasons:
Businessman can prepare Bank Reconciliation statement only with Cash Book Balance.
A bank reconciliation statement is prepared to know the causes for the difference between:
When money is withdrawn from bank, the bank ______.
Which of the following is not the salient feature of bank reconciliation statement?
Credit balance as per bank statement is an overdraft.
Correct and rewrite the following statement:
Bank Reconciliation Statement is prepared by Bank.
From the following particulars, prepare the 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
- The cheque deposited ₹9,700 collected by the bank was not recorded in the Cash Book.
- The payment side of the Cash Book was undercast by ₹100.
- Electricity bill paid by bank ₹6,200 was recorded twice in Pass Book.
