Question

Bank Reconciliation Statement is prepared so that the difference between the undermentioned balances can be reconciled​

Answer 1

Answer:

For reconciling the balances as shown in the Cash Book and passbook a reconciliation statement is prepared known as Bank Reconciliation Statement or BRS. In other words, BRS is a statement which is prepared for reconciling the difference between balances as per cash book's bank column and passbook on a given date