Give one word or term or phrase which can substitute each of the following statement.
A statement which is prepared so as to agree the bank balance as shown by the pass book with the bank balance as shown by the bank column of the cash book.

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Solution

Bank reconciliation statement. It is a statement which is prepared to reconcile the balances as per cash book (bank column) and pass book (bank statement) by identifying the causes of differences between the two.

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Q. Give one word or term or phrase which can substitute each of the following statement.
A statement prepared to reconcile the balances show by Cash Book and Pass Book.

Q. Explain the reasons where the balance shown by the bank pass book does not agree with the balance as shown by the bank account column of the cash book.

Give on Word/Term or phrase which can substitute each of the following statements.

1) Statement showing the causes of disagreement between the balance of Cash Book and Pass Book
2) The account on which overdraft facility is allowed by Bank.
3) Excess of total of debit side over total of credit side of Cash Book Bank column.
4) An unfavorable balance shown by the Pass Book
5) A copy of customer’s account issued by the Bank
6) Booklet or a Statement which is used to record the banking transactions.
7) Credit balance of Bank Column of the Cash Book
8) Refusal by Bank to make the payment of cheque

Explain the reasons where the balance shown by the bank passbook does not agree with the balance as shown by the bank column of the cash book.

State whether the following Statements are True or False.

1) Bank Reconciliation Statement is prepared by Bank.
2) Bank Reconciliation Statement is prepared at the end of stipulated period.
3) Overdraft facility is allowed to proprietors personal account
4) Debit balance of Pass Book represents overdraft
5) Credit balance of Bank column of Cash Book represents the balance as per Cash book.
6) Bank charges debited by Bank increases bank balance in the Pass Book.
7) Interest credited in Pass Book is an income to the Customer.
8) Bank Reconciliation Statement is prepared to detect the errors the takes place in accounting

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Give one word or term or phrase which can substitute each of the following statement.A statement which is prepared so as to agree the bank balance as shown by the pass book with the bank balance as shown by the bank column of the cash book.

Bank reconciliation statement. It is a statement which is prepared to reconcile the balances as per cash book (bank column) and pass book (bank statement) by identifying the causes of differences between the two.

Give one word or term or phrase which can substitute each of the following statement.
A statement which is prepared so as to agree the bank balance as shown by the pass book with the bank balance as shown by the bank column of the cash book.