What is Bank Reconciliation Statement? Explain the causes of disagreement in the balances shown by cash Book and Pass Book
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1. Cheques issued but not presented for payment.
2. Cheques paid or deposited but not collected and credited by the bank.
3. Interest credited by the bank but entered in cash book.
4. Bank charges, commission and interest in overdraft debited by the bank but not entered in cash book.
5. Expenses directly paid by the bank on behalf of customer but not recorded in cash book.
6. Incomes directly collected by the bank on behalf of customer but not recorded in cash book.
7. Amount directly deposited into the bank by debtors but not entered in cash book.
8. Cheque deposited into the bank but dishonored.
9. Dishonor of bill discounted with the bank.
10. Errors committed in the cash book and pass book.
Explain the causes/reasons forthe disagreement between thecash book balance and thepassbook balance. There is always a difference in the time gap between recording the transactions in the books of account and those recorded by thebank. In a cash book, the cheques issued for payment are recorded without any delay.
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2. Cheques paid or deposited but not collected and credited by the bank.
3. Interest credited by the bank but entered in cash book.
4. Bank charges, commission and interest in overdraft debited by the bank but not entered in cash book.
5. Expenses directly paid by the bank on behalf of customer but not recorded in cash book.
6. Incomes directly collected by the bank on behalf of customer but not recorded in cash book.
7. Amount directly deposited into the bank by debtors but not entered in cash book.
8. Cheque deposited into the bank but dishonored.
9. Dishonor of bill discounted with the bank.
10. Errors committed in the cash book and pass book.
Explain the causes/reasons forthe disagreement between thecash book balance and thepassbook balance. There is always a difference in the time gap between recording the transactions in the books of account and those recorded by thebank. In a cash book, the cheques issued for payment are recorded without any delay.
PLEASE PLEASE PLEASE MARK ME BRAINILIST I
Answered by
2
Cheques issued but not presented for payment.
2. Cheques paid or deposited but not collected and credited by the bank.
3. Interest credited by the bank but entered in cash book.
4. Bank charges, commission and interest in overdraft debited by the bank but not entered in cash book.
5. Expenses directly paid by the bank on behalf of customer but not recorded in cash book.
6. Incomes directly collected by the bank on behalf of customer but not recorded in cash book.
7. Amount directly deposited into the bank by debtors but not entered in cash book.
8. Cheque deposited into the bank but dishonored.
9. Dishonor of bill discounted with the bank.
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