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Bank reconciliation

Accountancy

On 30/3/20 we have issued cheques of amount of rs.40000 and we have a bank balance of 1lak ..and the cheques got cleared on 25/4/20..my question is in my books of accounts my bank balance will be 1lak-40k or will show my bank balance as per bank statement?

vasabattula abhinav

CA Final

★ 85

07-Aug-21 08:10

490

Answers (1)

We will adjust our books of accounts as per the BRS . So, when the bank balance is reported in the balance sheet it is the reconciled one taken from the adjusted cash book. In this case the amount will be 1 lakh only as the cheque gets cleared on 25/4/20.

roshini reddy

CA Inter

★ 1K+

07-Aug-21 10:12