REMEDIAL CLASS - 4: BANK RECONCILIATION STATEMENT AND SAMPLE QUESTIONS
21st May, 2020 (DAY 4) Bank Reconciliation Statement Meaning and Need of Bank Reconciliation Statement: Introduction WATCH THE VIDEO FOR THE CLARITY OF THE CONCEPT OF BANK RECONCILIATION STATEMENT BY CLICKING AT THE LINK BELOW: CONCEPT OF BANK RECONCILIATION STATEMENT LINK Till now, we have observed that the Bank Column of a Cash Book is used to record all the banking transactions of a business. In today’s world, it is a very common to deposit cash and cheques received and to make payments through bank. These transactions are recorded in the customers account by the bank. This detailed list of transactions in form of a statement is given to customer for their reference and is known as Bank Pass Book or Bank Statement . As the same transactions are recorded in both the books- Cash Book and Pass Book, so their closing balance are usually same but...