What is BRS?
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Answer / ruchi aggarwal
BRS IS BANK RECONCILATION STATEMENT IN WHICH WE COMPARE PASS
BOOK WITH CASH BOOK OF COMPANY.AND IDENTIFIES THE
TRANSACTIONS WHICH CAUSES DIFFERENCES BETWEEN BOTH OF THE
BOOKS.
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / shailesh
brs is a statement prepared to reconcile the bank balance as per the cash book with the bank balance with the pass book.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / mohd.hasan afaq
Bank Reconciliation statement in which we match the
transactions, bills/checks detail of our cashpook with bank
passbook and identifies the variaces in amounts with the
help of bank statement and our cash ledger.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / guest
its a Bank Reconcilation Statement. it was used to prepare
to rettify the errors in the process of banking. those may
be wrong postings in pass book or cash book.
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Answer / nagendra prasad
BRS is nothing but Finding out the Difference between the
Cash Book and Pass Book and Passing necessary adjusted
entries.
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Answer / ramoj
BRS: It is a statment showing the causes for the differences between cash book and pass book balances of the business at a particular date.
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Answer / v sakkthivel
BANK RECONCILEATION STATEMENT IS PREPARED BY COMPANY AS
AND WHEN ACCOUNT CLOSED IN CASH BOOK TO CHECK AND ASSETAIN
THE AMOUNT OF CASH IN HAND AND CASH AT BANK CLOSING THE
ALLTRANSACTION MADE THAT PERIOD ENDING OF CLOSING OF
ACCOUNTS. BASED ON THE EITHER BY PASS BOOK OR BY CASH BOOK
ADDING/SUBSTRACTING(LESS) TRANSACTION (DEBIT/CREDIT) MADE
ON THAT PEIOD OF ACCOUNT CLOSING. FIND OUT THE OPERING
BALANCE/CLOSING BALANCE OF ACCOUNT PERIOD
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what aboutthe Comprised account for preparation of Book Accounts
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
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