Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / murali koda
Hi Friends.
The following procedures are followed while preparing the
bank reconciliation statement:
* Compare cash book and pass book items.
* Give sign to all the items of cash book and pass book
which are matched with each other.
* Make a list of unmatched items found in cash book and pass
book.
* Prepare bank reconciliation statement taking balance
either from cash book or pass book as a basis.
* Adjust the items which cause the disagreement in the
balances. Add the items which have decreased the balance on
the book with which reconciliation is to be made. On the
contrary subtract the amount of those items which have
increased the balance.
These procedures should be followed only when the cash book
and pass book are to be compared. But if causes of
differences are already given, the above procedures need not
be followed.
If the causes of disagreement between the cash book and pass
book balances are given, the bank reconciliation statement
can be prepared either by taking the balance of cash book or
pass book. The bank reconciliation statement can be prepared
by using either of the following bases.
* Debit balance shown by cash book
* Credit balance shown by cash book (bank overdraft)
* Credit balance shown by pass book
* Debit balance shown by pass book (bank overdraft)
| Is This Answer Correct ? | 3 Yes | 0 No |
Post New Answer View All Answers
under which head should be the p & l appropriation a/c should be opened in tally 9? and how to preapare and display it?
Ours is a technology firm. We got a contract of 1 lac. It is payable at the end of the contract. How you will recognize revenue?
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
explain circumstances under which dissolution of solvent and insolvent partners are applicable using garners v/s murray rule
Do you know marginal cost?
Define scrap value in accounting?
What is accounting normalization?
What will be a entry for TDS deducted on Salaries, Directors Remuneration and Rent.
A company primarily operating from own land, takes on rent building for staff quarters. Whether rent paid on such staff quarters qualifies as capital investment?
hi ,i need some suggestion,comptd my graduation in 2012,but i wasted my time for 6 month,just i want 2 escape from this question,what u did for 6 months,how can i give proper anser to them?pls suggest me
What are the functions of manger -accounts and manager-finance?
Can it be possible to transfer FCRA funds to an ngo who don't have FCRA registration no.
what is the enty for contract bill raised?
sir i want know how to fill vat return
What is difference between Cash Flow and fund flow
