Question:
Which of the following transaction will be added while preparing Bank Reconciliation statement when debit balance as per Cash Book is given?
Which of the following transaction will be added while preparing Bank Reconciliation statement when debit balance as per Cash Book is given?
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Ensure all issued cheques are recorded in the Cash Book to avoid discrepancies in the Bank Reconciliation Statement.
Updated On: Dec 18, 2024
- Cheque issued but not yet presented for payment
- Cheque issued but omitted to be recorded in the Cash Book
- Any wrong debit given by bank in the Pass Book
- Bank charges and commission charged by bank.
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The Correct Option is B
Solution and Explanation
- If a cheque issued is omitted to be recorded in the Cash Book, the balance as per the Cash Book will be lower. While preparing the Bank Reconciliation Statement, this amount must be added back to reconcile the balances.
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