Bank account balance
This query is : Resolved
21 December 2011
Sir,
Please tell
Suppose my ICICI bank had balance on 31/03/2011 as per book is 150000/-
but one cheque presented for payment in bank on 4/4/2011 for Rs.10000/-
As per bank as on 31/3/11--- 160000/-
Now my question is while preparing the balance sheet on 31/03/11
which balance should we take in balane sheet
Reply
Please tell
Suppose my ICICI bank had balance on 31/03/2011 as per book is 150000/-
but one cheque presented for payment in bank on 4/4/2011 for Rs.10000/-
As per bank as on 31/3/11--- 160000/-
Now my question is while preparing the balance sheet on 31/03/11
which balance should we take in balane sheet
Reply
21 December 2011
In preparaing the balance sheet the balance will be shown as per books i.e. 150,000.
You will prepare a BRS for the same explaining the difference of Rs 10,000, to arrive at the balance as per bank statement of Rs 160,000
The bank balance confirmation will confirm the bank balance as Rs 160,000.
You will prepare a BRS for the same explaining the difference of Rs 10,000, to arrive at the balance as per bank statement of Rs 160,000
The bank balance confirmation will confirm the bank balance as Rs 160,000.
Guest
Guest
(Expert)
21 December 2011
150000 will be shown as bank balance in balance sheet (subject to reconciliation)
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