Advertisements
Advertisements
Question
Bank reconciliation statement is prepared to identify the causes of differences between balance as per bank column of the cash book and balance as per cash column of the cash book.
Advertisements
Solution
No
Explanation:
A Bank Reconciliation Statement (BRS) is prepared to find the causes of differences between:
- Balance as per bank column of the cash book, and
- Balance as per pass book (bank statement)
APPEARS IN
RELATED QUESTIONS
Answer in one sentence:
Who prepares the Bank Reconciliation Statement?
Do you agree or disagree with the following statement:
Bank statement enables account holder to prepare Bank Reconciliation Statement.
Complete the following statement:
While preparing Bank Reconciliation Statement only __________ column of Cash Book is considered.
Complete the following statement:
A statement showing the reasons for difference in Cash Book balance and Pass Book balance is known as ___________.
Balance as per cash book is ₹ 2, 000. Bank charge of ₹ 50 debited by the bank is not yet shown in the cash book. What is the bank statement balance now?
What is bank reconciliation statement?
Bank charges debited by the bank increases the balance as per bank statement.
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.
