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How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200?
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How to reconcile this ( BRS ) on 4th October,1991 the credit side of t...
Reconciliation of Cash Book
Step 1: Comparison of Bank Statement and Cash Book
- On 4th October 1991, the credit side of the bank column of the cash book was short by Rs. 1000. This means that there is a difference between the amount recorded in the cash book and the actual amount deposited in the bank account.
- On 16th October 1991, the credit balance of Rs. 2600 was brought forward as a debit balance of Rs. 6200. This means that the cash book balance was in debit by Rs. 6200.
Step 2: Identification of Reasons for Differences
- The difference of Rs. 1000 on 4th October 1991 could be due to an error in recording the amount in the cash book or a delay in the processing of the bank transaction.
- The debit balance of Rs. 6200 on 16th October 1991 could be due to outstanding cheques or payments that have not been cleared by the bank yet.
Step 3: Adjusting Cash Book Balance
- To reconcile the cash book, the difference of Rs. 1000 needs to be added to the cash book balance as it was not recorded in the cash book.
- The debit balance of Rs. 6200 on 16th October 1991 needs to be adjusted by subtracting the outstanding cheques or payments that have been cleared by the bank.
Step 4: Final Reconciled Balance
- After adjusting the cash book balance, the final reconciled balance will be the same as the bank statement balance.
- It is important to reconcile the cash book regularly to ensure the accuracy of the financial records and to avoid any discrepancies.
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How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200?
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How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200?.
How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for How to reconcile this ( BRS ) on 4th October,1991 the credit side of the bank column of cash book was cast rs 1000 short and on 16th oct 1991 the credit balance of rs 2600/- was brought forward as debit balance of rs 6200?.
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