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What is Bank Reconcilation statement?
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Answer / rakesh
Bank reconciliation statement is a statement shwoing all
kind of differences between the bank balance as per pass
book as well cash book.
Actually we maintain cash book and pass book maintained by
the bank for ex:cheque issued but not credited if u take
example like this in the bank pass book the sum is showing
as credited and where as the in our cash book we forgot to
make the entry for thsi purpose of making reconcilation we
need to prepare the bank reconciliation statement.
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Answer / abdullah amer
Bank Reconcilation Statement is the statement prepared at
peridoical intervals to reconcile the balance of cash book
with that of pass book and to find out the exact balance
with the bank.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / ambreen
bank reconciliation statement is the statement which is
prepared to reconcile the balance of bank column of cash
book with bank statement.
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Answer / naveen
it is a statement reconciling the balance as shown by the bank pass book and the balance as shown by the Cash Book.
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DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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