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Bank Reconciliation Statement(BRS)

A Bank Reconc...

Question

A Bank Reconciliation is not a?

A

Reconciliation of records

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B

Memorandum Statement

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C

Ledger Account

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D

Procedure to provide cash book adjustments

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Solution

The correct option is C
Ledger Account

A Bank reconciliation is a statement to identify & correct the causes of differences between cash book & bank statement, but is not a ledger account.

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Similar questions

Under Bank reconciliation statement, while adjusting the cash book:

Q. In bank reconciliation statement the account of outstanding cheques is added to ____ book balance of cash.

Q. Bank collected dividend of Rs.

25, 000

on behalf of customer which was not recorded in cash book.
In respect of the above given transaction which of the following treatment is correct for preparation of bank reconciliation statement?
(I) If BRS is prepared without adjusting cash book and the balance as per cash book is starting point then Rs.

25, 000

will be subtracted.
(II) If BRS is prepared with adjusted cash book then Rs.

25, 000

will be debited to the adjusted cash book.
(III) If BRS is prepared without adjusting cash book and the balance as per cash book is starting point then Rs.

25, 000

will be added.
(IV) If BRS is prepared with adjusted cash book the Rs.

25, 000

will be credited to the adjusted cash book.

Q. While preparing bank reconciliation statement, balance of bank account shall be taken from for matching the same with cash book.

Balance of bank account for preparation of bank reconciliation statement shall be taken from ___ for matching the same with cash book.

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