How to Prepare a Bank Reconciliation Statement:

939 WordsOct 31, 20114 Pages
How to Prepare a Bank Reconciliation Statement: To prepare the bank reconciliation statement, the following rules may be useful for the students: 1. Check the cash book receipts and payments against the bank statement. 2. Items not ticked on either side of the cash book will represent those which have not yet passed through the bank statement. 3. Make a list of these items. 4. Items not ticked on either side of the bank statement will represent those which have not yet been passed through the cash book. 5. Make a list of these items. 6. Adjust the cash book by recording therein those items which do not appear in it but which are found in the bank statement, thus computing the correct balance of the cash book.…show more content…
Rashid & Sons $29, Bashir & Co. $801, MA Jalil $6, Khalid Bros., $132. Prepare a statement recording the two balances: Solution: |Bank Reconciliation Statement on 31st December 1991 | | | | | |First Method: | | | |Balance as per cash book - Dr. | |1,401 | |Less cheques paid in but not collected | |116 | | | |[pic] | | | |1,285 | |Add cheques drawn but not presented: | | | | Rashid & Sons
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