Question

Bank charges entered twice in the cashbook

Answer 1

Bank charges some amount by way of providing it's services like loan, overdraft, interest etc. It is an expense and is debited in the cash book, If it is entered twice in the cash book, the bank column of the cash book and the pass book balance will not match (A passbook is a book maintained by Bank of our transactions realated to the same). In that case the cash book is gonna show a lower balance as compared to the pass book. It will also affect the trial balance and it will also not tally. For this purpose a Bank Reconcilation Statement is prepared to reconcile the differences between the bank column of the cash book and the pass book.

Answer 2

Answer:

plus ( p.b. )

minus ( c.b. )