A bank reconciliation should be prepared whenever the bank refuses to lend the company money. when an employee is suspected of fraud. to explain any difference between the depositor's balance per books with the balance per bank. by the person who is authorized to sign checks.

Question

Business

Finley Copeland

2 June, 03:22

A bank reconciliation should be prepared whenever the bank refuses to lend the company money. when an employee is suspected of fraud. to explain any difference between the depositor's balance per books with the balance per bank. by the person who is authorized to sign checks.

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Answers (1)

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Ronald Hammond · Answer 1

The correct answer is that its explain the difference among the balance of depositor as per the books along with the balance as per bank.

Explanation:

Bank reconciliation statement is the statement which states the process, in which it explains the difference on the particular date among the bank balance shown in the business bank statement, which as supplied through the bank and amount shown in the business accounting recording prepared by them.

In short, it is the statement which matches the records for the entries of cash account in relation to the bank statement of the company.

Therefore, the it is made whenever there is a difference among the balance of depositor as per books along with the balance as per bank.