What is the purpose of preparing a bank reconciliation and why is it necessary?

4 Answers  

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My company was granted a bank facility of 750,000 for guarantee, performance bond, advance payment, retention guarantee and 100,000 bank overdraft. These facility amount was never added to the company account. a. What is the entry? b. Lien over fixed deposit for 50,000 to be brought upfront c. Lien over gradual buildup for fixed deposit 50,000 by transferring 10,000 monthly from customer's account to separate call account. d. After a month, we had an overdraft of 22,000. What will be my entry? e. After 3 months, we have a construction project and was asked for advance payment of 24,000 with a 25% margin? f. Another company asked for performance bond of 44,200 with 25% margin.

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How to entry cash & credit card sales in Tally ERP in One sales vocuher pls help me in this?

6 Answers  

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x pay incentive to y with tds@10%.what is the journal entry in the books of x & y?

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In the income statement we may get profit or loss but the name of the statement was Profit and Loss account Why it was so?

1 Answers   Satyaki Educational Academy,

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What is mean by Amortization?

4 Answers   TCS,

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How do you add/remove a payment block for particular invoice ?

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what is the unique thing about employees that employers expect to see at an interviews.

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steps for finalisation of accounts and related entries

2 Answers  

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1.what is the entry of petrol of payment made by credit card of owner? 2.what is the entry of petrol of payment made by credit card of Company?

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Can anyone clearly explain difference between assessment year and financial year?

3 Answers  

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Tell me what is trial balance in accounting?

0 Answers  

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