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Why there is a difference between a cashbook balance and and a bank statement balance?
Wiki User
∙ 10y ago
Difference between both statements may occure due to many reasons like delay in clearance of cheque from bank, bank service charges deducted by bank automatically and other many day to day transactions and that's why it is required to reconcile from time to time.
Wiki User
∙ 10y ago
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Causes of differences between of the cashbook balance and the bank statement balance?
1.deposit in transit 2.outstanding cheque 3.memoranda
Difference between outstanding balance and Statement Balance?
speelling
What is the difference between the unadjusted trial balance and the adjusted trial balance?
The difference between adjusted and Un-adjusted trial balance is that in adjusted trial balance the items of balance sheet and income statement are randomly but in adjusted trial balance the items are in tabular form.
What is the difference between preparing a trial balance and preparing a balance sheet?
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
Causes of differences between of the cashbook balance and the bank statement balance?
1.deposit in transit 2.outstanding cheque 3.memoranda
Why there is a difference between cash account in the campony's book and bank statement balance in bank?
The cashbook (account) in the company's books reflects all cheques written to suppliers and all cheques received from customers. However, the bank statement balance shows only cheques that have cleared. So at any date there can be a difference between the cashbook and the bank statement, comprising of cheques issued and/or cheques received but yet to clear and be debited/credited to the bank balance. There may also be differences due to accounting errors or omissions. In doing a bank reconciliation these differences can be identified and corrected.
Difference between outstanding balance and Statement Balance?
speelling
Why there is a difference between cash book and bank statement balance in bank?
There may not be difference between cashbook and bank statement balance in bank if all the payments and remittances are debited and credited in the bank account on the month itself.It may not be possible under certain circumstances. For example if a check has been paid to the customer and if the customer has not deposited the check in his/her account naturally the bank account will show an excess balance corresponding to the check in question.Similarly if a check remitted in the account needs clearing from other bank there also possibilities for difference.
What is the difference between the unadjusted trial balance and the adjusted trial balance?
The difference between adjusted and Un-adjusted trial balance is that in adjusted trial balance the items of balance sheet and income statement are randomly but in adjusted trial balance the items are in tabular form.
What is the difference between preparing a trial balance and preparing a balance sheet?
AnswerTrial Balance is a statement showing the closing balances of all the ledger accounts and Balance Sheet is a statement showing the closing balances of Assets and Liabilities.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
What will the overall change in cash calculated on the statement of cash flow be always the same as?
The difference between the beginning and the ending cash balance on balance sheet.
Is the overall change in cash calculated on the statement of cash flows always the same as the beginning cash balance on the balance sheet?
the difference between the beginning and the ending cash balance on balance sheet
Difference between cash flow statement and cash book?
Cash book is made before making Balance sheet because ash book balance is transfer to balance sheet but Cash flow statement is made after balance sheet. 2. Cash book is subsidiary book of accounts and cash flow statement is a Financial Statement.
What are the common sources of difference between the balance per book and the balance per bank statement?
Balance per book is company's record and balance per bank is banks record on the bank reconciliation.
What is difference between basic command and statement?
difference between command and statement
