WebDec 21, 2024 · Requirements to Create BRS. A bank reconciliation statement needs the use of both the current and prior month’s statements, as well as the account’s closing balance. ... Debit balance as per passbook shows the amount which has been withdrawn more than the deposit and debits balance as per passbook is also known as ‘overdraft … WebBank Reconciliation Statement (BRS) is prepared as and when needed. The need for preparation of BRS arises only when there is a difference in the bank a/c balance as …
Bank Reconciliation Statement (2024) - investguiding.com
WebOn December 31, 2012 the overdraft as per passbook for account no. 1 is Rs. 43,276. But the overdraft as per cash book is not the same and on comparing the pass book and cash book, he finds the following: (i) Out of the total cheques of Rs. 3,700 deposited on December 27, 2012, one cheque amounting Rs. 1,325 was collected on January 4, 2013. WebAnswer. Question. A bank reconciliation statement is mainly prepared for. (a) Reconcile the cash balance of the cash book. (b) Reconcile the difference between the bank balance shown by the cash book and bank passbook. (c) Both (a) and (b) (d) None of these. Answer. Question. headgear decals
Bank Reconciliation: Purpose, Example, and Process
WebBank Reconciliation Statement in short BRS, is an explanation of the difference between bank balance as per cash book and bank balance as per Passbook(Bank statement). Sometimes, The bank balance as per the cash book and passbook does not tally with each other, then we can know the difference between them by preparing the bank … WebFeb 24, 2024 · BRS Steps in Dealing with favorable balances (i) The date on which the statement is prepared is written at the top, as. part of the heading. (ii) The first item in the statement is generally the balance as … WebNov 27, 2024 · Solution: Question 11. Prepare Bank Reconciliation Statement from the following particulars on 31st July, 2024: (i) Balance as per the Pass Book ₹ 50,000. (ii) Three cheques for ₹ 6,000, ₹ 3,937 and ₹ 1,525 issued in last week of July, 2024 were presented for payment to the bank in August, 2024. headgear da dreamwear