What do you mean by" bank reconciliation"?, Accounting Basics

Assignment Help:

A Bank reconciliation manipulates cross verifying the entries in the cash book(bank balance)with that of pass book.

Mostly the reasons for disagreement of cash book with that of pass book are as follows:

1.cheques placed but not collected by bank.

2.cheques issued but not offered for payment.

 


Related Discussions:- What do you mean by" bank reconciliation"?

Identify the errors, Company A has only been in existence for two full year...

Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.

Quickbooks help, I need the answers to the following questions in Quickbook...

I need the answers to the following questions in Quickbooks 2012, 1-write dividend checks, 2- sell fixed assets, 3-update the asset tracking report, 4-pay sales taxes and payrol

Determine the income statement columns of worksheet, Determine the Income S...

Determine the Income Statement columns of Worksheet Income Statement columns of the worksheet would comprise the amounts from Adjusted Trial Balance columns which are expenses

Stocks, Please help journalize: -On January 1, 2017 Harmony issued 1,500 sh...

Please help journalize: -On January 1, 2017 Harmony issued 1,500 shares of $22 par, 8% preferred stock for $43,700. -On January 1, 2017 Harmony also issued 2,000 shares of common s

TRADING ACCOUNT, WHO PREPARES A TRADING ACCOUNT AND WHY?

WHO PREPARES A TRADING ACCOUNT AND WHY?

Show periodicity concept, Q. Show Periodicity concept? As per to the pe...

Q. Show Periodicity concept? As per to the periodicity (time periods) concept or assumption an entity's life can be meaningfully subdivided into time periods (such as months or

Annual interest of 5% paid if balance exceeds, Annual interest of 5% paid i...

Annual interest of 5% paid if balance exceeds 800, $7 monthly fee if account falls below minimum balance, average monthly balance $1,160, account falls below $800 during 5 months

Accounting Fundamentals, “Ledger is said to be the principal book entry and...

“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.

Explain about equity or net asset, Q. Explain about Equity or net asset? ...

Q. Explain about Equity or net asset? An equity or net asset is the residual interest in the assets of an entity that remains subsequent to deducting its liabilities and in the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd