BANK RECONCILIATION STATEMENT
Chapter 11: BANK RECONCILIATION STATEMENT · Accountancy · EN medium
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Points to recall The following points are to be recalled before learning bank reconciliation statement: • When transactions are more in number, subsidiary books are used. • Cash and bank transactions are recorded in the cash book. • Deposit made into the bank is debited in the bank column of the cash book. • Payment made by the bank is credited in the bank column of the cash book. • Debit balance as per bank column of the cash book is favourable balance. • Credit balance as per bank column of the cash book is overdraft. Key terms to know • Bank statement • Bank overdraft • Unpresented Cheques • Uncleared Cheques • Dishonoured cheques • Standing instructions • Bank reconciliation statement.
📖 Namma Kalvi 11th Accountancy Textbook English Medium · Page 159
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Points to recall The following points are to be recalled before learning bank reconciliation statement: • When transactions are more in number, subsidiary books are used. • Cash and bank transactions are recorded in the cash book. • Deposit made into the bank is debited in the bank column of the cash book. • Payment made by the bank is credited in the bank column of the cash book.
• Debit balance as per bank column of the cash book is favourable balance. • Credit balance as per bank column of the cash book is overdraft. Key terms to know • Bank statement • Bank overdraft • Unpresented Cheques • Uncleared Cheques • Dishonoured cheques • Standing instructions • Bank reconciliation statement.
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