Question

Explain the process of preparing bank reconciliation statement with
amended cash balance.

Answer 1

Answer:

Bank reconciliations can help a company to verify that its bank account ending balance per the bank matches the balance on hand per the company's general ledger. The process of preparing a bank reconciliation involves making adjustments to the balances in both the bank statement and the company's records to confirm that the ending balances match and that every item is properly accounted for.