Difference between Trial Balance and Balance Sheet Trial Balance Vs Balance Sheet Trial Balance: The Trial balance is prepared by extracted the balances from the ledger accounts, it shows the summary of the ledger accounts but does not show the financial position of a business. It is usually prepared at the end of an […]
What is profit and loss account and balance sheet
What is profit and loss account and balance sheet First we have proved the arithmetical accuracy of ledger by means of trial balance and now we proved to ascertain our final accounts i.e Profit and loss account and balance sheet. In order to determine the profit and loss of a business and its financial […]
Bank Reconciliation Statement A practical Example
Bank Reconciliation Statement: This Problem will help you to understand that how we prepare bank reconciliation statement, how we reconcile our cash book and pass book balance, and point out error. BRS Practical Example: The bank statement of usman brothers indicates as balance of Rs.4000 on January 30 2014, .the balance of a cash in […]
Why we Prepared Bank Reconciliation Statement
Why we Prepared Bank Reconciliation Statement Why we reconcile bank statement because balance shown by the bank statement must agree with balance as shown by the cash book. But sometimes it does not agree. The cause of disagreement is as under: for this purpose we prepare bank reconciliation statement and reconciling the bank balance. The […]
What is Bank Reconciliation Statement | Meaning , Purpose, Example
Bank Reconciliations Statement: Bank Reconciliation Statement is prepared by every accountant in every organization where thousand of transaction take place. Meaning of Bank Reconciliation Statement: It is a statement prepared at the end of every month or so to explain the causes for differences between the balance of passbook and bank column of the cash book, […]