
Concept explainers
TheBank reconciliation statement is a statement prepared at periodic interval to know the reasons for the difference in balances in bank account as reflected in the bank statement and books of account. The statement not only finds the reasons for differences in the two statement of accounts but also helps in ensuring the true and correct balances in two accounts by rectification and adjustment required to be made in the two books.
This will help in ensuring that the adjusted and reconciled balances of two statement matches each other.
Requirement1:
The preparation of bank reconciliation statement for the month ending Nov30, 2016.
Requirement2:
The Balance to be shown in the Books of account as on Nov30, 2016.
Requirement3:
The Journal entries to be passed in the books for reconciliation of cash balance.

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Chapter 8 Solutions
Horngren's Accounting, The Financial Chapters, Student Value Edition (11th Edition)
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