Explanation Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from its perspective. This is why the cash balance per bank and cash balance per books seldom agree. Bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and cash balance per books. Prepare a bank reconciliation of Company R as at August 31: Company R Bank Reconciliation August 31 Particulars Amount ($) Amount ($) Balance as per bank $ 5,100.44 Add: Deposit in transit $2,504...

3rd Edition

ISBN: 9780131060876

Author: REIMERS

Publisher: PEARSON

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Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.

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Chapter 4, Problem 35EB

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Prepare a bank reconciliation of Company R as at August 31.

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Prepare a bank reconciliation of Company R as at August 31.

Solution Summary: The author explains that a bank reconciliation is the statement prepared by company to remove the differences and disagreement between cash balance per bank and books.

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Prepare a bank reconciliation of Company R as at August 31.

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