If Pass book & Cash Books Balances are showing same so are
you need to BRS ?
Answer Posted / sunilkumarsuresh
BRS-Bank Reconconcilliation is doing to ascertain the
accuracy of the bank ledger account.Eventhough the bank
balance is same ,we have to reconcille each
transactions.The amount in our bank account may be the same
but it may be recieved or paid to different parties.
So the answer is YES
TanQ
Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
EXPLAIN EACH SECTION PROVISIONS ON TDS?
What is the treatment of claim settled by insurance company but still receivable in profit and loss account
What is a ledger? What do you mean by ledger posting?
When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?
Explain fictitious assets?
What is the disadvantage of double entry system?
the bank returned S meyer cheque for R450. the cheque has been dishounerd because of insufficient funds, discount of R50 was allowed the account was settled
What Entery Should Made When Godown Rent Paid in Advance At The Time Of Agreement.Transation Is as Below * Rent Paid To XYZ (OWNER OF PROPERTY) For Running Month. * One Month Rent In Advance Tenent will Always pay rent amt 1st of every month. How can we do entry every month and How can party's a/c will due on ending every month. How can party a/c Show ADVANCE RENT. Please enter every entery including JV. With time when it is necessary.
iam working with tally ERP.9,but iam dont prepared reconciliation,trial balance,profit&loss,balance sheet etc.bcoz all these activicties done in head office.plz give me citeria where iam prepared.
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.
What is accounting & why it is used?
Explain the term account payable?
The 'going concern concept' is the underlying basis for: 1.stating fixed assets at their historical cost 2.disclosing the market value of securities 3.disclosing the sales and other operating information in the income statement 4.none of the above
Tell me why some asset accounts have a credit balance?
What is accrual accounting?