bank reconciliation statement numerical questions and answers


I studied accountancy in polytechnic and i have my higher national diploma[HND] in 1997 .I proceeded to Nigeria college of accountancy, Jos to pursuit my professional examination in which i qualified in 2003 as certified National Accountant under umbrella of Association of National Accountants of Nigeria[ANAN].Now as a chartered Accountant i want to fit in to every situation i may find myself.Presently i am working with office of auditor general for FCT area councils ,Abuja.Please what is the less costly way to fit in as a professional Accountant. The process of bank reconciliations bring value. Mark the balance as 'Greater' and 'Lesser'. From the checking following can be noted: Cheques issued to DFP Limited and XYZ Limited issued by the company but not presented in Bank; Cheque from Customer C deposited into Bank … Question2: What are the important things to be remembered while preparing a bank reconciliation statement? On which side do assets, liabilities, equity, revenues and expenses have normal balances? You can also visit our article explaining how to do bank reconciliations and practice bank reconciliation exercises with answers here. Bank Reconciliation Statement is a statement prepared to reconcile the balances of cash book maintained by the concern and pass book maintained by the bank at periodical intervals. Bank Reconciliation Statement Examples. From Board Exam point of view, which is the best book for CBSE class XI and XII. at least the C++ chapters answers. 3. Also, would the accountancy degree help me pay for law school? Journal entries to record inventory transactions under a perpetual inventory system, Journal entries to record inventory transactions under a periodic inventory system, Presentation of Financial Statements, Discontinued Operations, ASC 205, Journal entry to record the collection of accounts receivable previously written-off, Journal entry to record the write-off of accounts receivable, Journal entry to record the estimated amount of accounts receivable that may be uncollectible, Journal entry to record the collection of accounts receivable, Journal entry to record the sale of merchandise on account, Journal entry to record the sale of merchandise in cash, Journal entry to record the purchase of merchandise, Journal entry to record the payment of rent, Journal entry to record the payment of salaries, Journal entry to record the purchase of equipment, Journal entry to record the investment by owner, List of updates to the codification topic 820, Costs of software to be sold, leased, or marketed, ASC 985, Servicing Assets and Liabilities, ASC 860, Translation of Financial Statements, ASC 830, Fair Value Measurements and Disclosures, ASC 820, Consolidation, Variable Interest Entities, ASC 810, Consolidation, Noncontrolling Interests, ASC 810, Disposal of Property, Plant and Equipment, Research and Development Arrangements, ASC 730, Compensation: Stock Compensation, ASC 718, Revenue Recognition: SEC Staff Accounting Bulletin Topic 13, ASC 605, Distinguishing Liabilities from Equity, ASC 480, Exit or Disposal Cost Obligations, ASC 420, Asset Retirement and Environmental Obligations, ASC 410, Investments: Equity Method and Joint Ventures, ASC 323, Investments-Debt and Equity Securities, ASC 320, Transfers of Securities: Between Categories, ASC 320, Overview of Investments in Other Entities, ASC 320, Investments in Debt and Equity Securities, ASC 320, Accounting Changes and Error Corrections, ASC 250, Income Statement, Extraordinary and Unusual Items, ASC 225, Presentation of Financial Statements, ASC 205, Generally Accepted Accounting Principles, ASC 105, Generally Accepted Accounting Principles (GAAP), Extraordinary and Unusual Items, ASU 2015-01. Now as I have found that there is only one way to get admission in XII CBSE Boards & that is through NIOS but how do I go about it ? Review questions and answers provide practice at answering examination with a bank reconciliation statement being drawn up to reconcile the two sets. Bank Reconciliation Formula – Example #1. Jee asks: Since the bank reconciliation statement should be done on a monthly basis, say if a company has a … Uploaded By tshenolomacura. When effectively implemented it assures that the bank as well as the business have relevant financial statements. At 31 May 2007 her ledger balance was $2,759 (credit) and her bank statement showed that she had funds of $131 at the bank. What are the components of the accounting equation? What are the key financial ratios to analyze the activity of an entity? From the following particulars, prepare Bank Reconciliation statement for M/s XYZ and company as at 31 st December 2018. Quiz Over Bank Reconciliation Statement ProProfs Quiz Bank Reconciliation Questions and Answers. I’ve classed one of my 2hobbies and interests” as Current Affairs, and thus, the credit crunch. What are the key financial ratios to analyze the cash flow of an entity? BRS Notes. Balance as per Bank Book is 8,000; Cheques issued of Rs. 0 answers. On 31st March, 2011 your pass book showed a balance of Rs.6,000 to your credit. He has completed his X (matriculation), CBSE from Delhi Public School. where I download the cbse books of class XI pls help me. Q1. From the following particulars, prepare a, bank reconciliation statement as at March 31, 2017. Some friends advised me to go for the Accountancy so what do you think ? So is the case if you are looking for CBSE class 11 Commerce related topic . 1st PUC Accountancy Bank Reconciliation Statement Numerical Questions and Answers. (ii) Sarah arranged … What does a journal entry look like when cash is received? In preparing a company’s bank reconciliation statement, theaccountant finds that the following items are causing a differencebetween the cash book balance and bank statement balance: (1) Direct debit $530. Bank Reconciliation Exercises and Answers - Bank Statement of the Rose and Flower Shop. 10 Questions on Bank Reconciliation Statement of Class -XI, Click Start Quiz button to test your knowledge on 10 Questions on Bank Reconciliation Statement CBSE Class-XI. What are the items reported on the balance sheet of an entity? Numerical Questions for NCERT Accountancy Solutions Class 11 Chapter 5. What are the key financial ratios to analyze the liquidity of an entity? Bank Reconciliation Statement Examples . He is a good mathematician, physicist etc., but in this day and age he wants to study for a profession rather than just studying a ‘subject’ at university. 4. Thanks in advance. iii. These are very small businesses.. one’s with but a few people running the business.. there wouldn’t be an HR department. From here each account is checked with records to assure a purchase … Select a country…Åland IslandsAfghanistanAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelauBelgiumBelizeBeninBermudaBhutanBoliviaBonaire, Saint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBritish Virgin IslandsBruneiBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongo (Brazzaville)Congo (Kinshasa)Cook IslandsCosta RicaCroatiaCubaCuraÇaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland IslandsFaroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and McDonald IslandsHondurasHong KongHungaryIcelandIndiaIndonesiaIranIraqIsle of ManIsraelItalyIvory CoastJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKuwaitKyrgyzstanLaosLatviaLebanonLesothoLiberiaLibyaLiechtensteinLithuaniaLuxembourgMacao S.A.R., ChinaMacedoniaMadagascarMalawiMalaysiaMaldivesMaliMaltaMarshall IslandsMartiniqueMauritaniaMauritiusMayotteMexicoMicronesiaMoldovaMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNetherlands AntillesNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorth KoreaNorwayOmanPakistanPalestinian TerritoryPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarRepublic of IrelandReunionRomaniaRussiaRwandaSão Tomé and PríncipeSaint BarthélemySaint HelenaSaint Kitts and NevisSaint LuciaSaint Martin (Dutch part)Saint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSan MarinoSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia/Sandwich IslandsSouth KoreaSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyriaTaiwanTajikistanTanzaniaThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited Kingdom (UK)United States (US)UruguayUzbekistanVanuatuVaticanVenezuelaVietnamWallis and FutunaWestern SaharaWestern SamoaYemenZambiaZimbabwe. 5: Calculate new cash book balance and use it to prepare a Bank Reconciliation Statement. 3. What is a deposit in transit? Bank interest of $100 was recorded in Pa… Answer: B. Students can take the bank reconciliation statement multiple-choice questions (MCQs) quiz that we have prepared to test their knowledge about BRS concepts. What is the procedure ? Accounting Questions Video: Apply accounting equation to determine total revenues. Draw Bank Reconciliation Statement showing adjustment between your cash book and pass book as on 31st March, 2011: i. Question4: Explain step for preparing a bank reconciliation statement? Further details are as follows: 1. plzzz post the entire marking scheme here or give me the direct link to the marking scheme…. Learn More. How is the assets to equity ratio calculated? Which is the best one to do? From the following particulars, prepare a, bank reconciliation statement as at March 31, 2014. The original statement in the questionis incorrect because the unpresented cheques increase the overdraft and the deposits credited after date reduce the overdraft. You can do so by comparing … Accounting Questions Video: Apply accounting equation to determine total revenues. Why is it prepared? Academy Almanac Exam Papers News Blog Contact Bank Reconciliation Statement - Study Notes, Problems Solutions, Questions Answers. 2. How are ROE, ROA and the assets to equity ratio related? Where can users obtain financial information about entities? How is the debt to assets ratio calculated? prepare a project report. 2,118. ii. MCQ Questions for Class 11 Accountancy Chapter 5 Bank Reconciliation Statement with Answers February 27, 2021 February 27, 2021 / By Prasanna Students who are searching for NCERT MCQ Questions for Class 11 Accountancy Chapter 5 Bank Reconciliation Statement with Answers Pdf free download are compiled here to get good practice on all fundamentals. Bank Reconciliation Statement; Bank Reconciliation MCQS; We have covered Bank Reconciliation Statement in great detail. Pages 7 This preview shows page 1 - 3 out of 7 pages. How is the accounts receivable turnover ratio calculated? Is this a good option will fitjee cbse and brilliant be at par. On December 31st, 2016, the bank closes its records for ABC Corp having an ending balance of $180,000 while the company closes with $170,000. Now, it is the time to do some quizzes in the form of MCQS (Multiple Choice Questions). A) Credit Balance. INTRODUCTION Every entrepreneur should have knowledge of cash book and pass book as from these books, he may check how much balance is … JAIIB - Accounting & Finance for Bankers (AFB) - Numerical Question Base on Bank Reconciliation Statement 50,000 Ticking the correct transactions. Bank Reconciliation Statements (With answers. 2.When preparing bank reconciliation, Cheque in transit is added to: cash book balance. which did not match with her bank statement. What is a Bank Reconciliation? The process of accounting bank statement reconciliation is essential because of the many timing differences and errors in the recording process between two parties. A cheque of $300 was deposited, but not collected by the bank. What are the items reported on the statement of cash flows of an entity? Ltd: (i) The bank overdraft as per cash book on March 31 st, 2017 was Rs. accounting entry-, Bank A/c Dr. In cash book, the favourable balance indicates. Taking up cost accountancy and not MBA after graduation will it be a wise choice?How good are the career prospects in cost accountancy are there any job anyway? About the Author. See below some examples of bank reconciliation questions and answers. B) Debit Balance. What are the key financial ratios for profitability analysis? I have a choice between a master in Accountany or in Business Administration? BANK RECONCILIATION STATEMENT QUESTIONS AND ANSWERS JUNE 2020.docx . Further Readings 14.1. What does a journal entry look like when cash is received? The answers are also given for your reference. * Flamboyant Company prepared the following bank reconciliation on October 31: 990,000 Cash account balance Less: Bank service charge Deposit outstanding Check erroneously charged by 5,000 45,000 bank against entity's account 10,000 60,000 Balance 930,000 125,000 45,000 … He has come up with the idea of accountancy. Lately I’ve been looking to transfer to a school in the city (Chicago). favourable balance. Have you watched the free lectures on bank reconciliations? Balance the accounts in both the books. You have to finish following quiz, to start this quiz: A Bank Reconciliation Statement is prepared with the help of: When the balance as per Cash Book is the starting point, direct deposit by customer is : A Bank Reconcilitation Statement is prepared to know the causes for the difference between: When balance as per Pass Book is the starting point, Insurance Premium paid by bank is : Solve it to Check your ACCOUNTS Knowledge. Any suggestions? My first day will be on May 26. it is for class xi cbse (holiday assignement) the project should include introduction, steps towards making a project, choice of target group, collection of data, organisation and presentation of data, analysis and interpretation, conclusion, bibliography. Accounting Questions Video: Apply accounting equation to determine total assets. Bank Reconciliation Statement is a statement prepared to reconcile the balances of cash book maintained by the concern and pass book maintained by the bank at periodical intervals. Other than the normal CA of ICAI is there any other accountancy degree recognised in India?I am based abroad and am planning to do an accountancy course but just in case I decide to settle in India want to make sure that would be able to practice/work in india. How is the debt to equity ratio calculated? Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 5 Bank Reconciliation Statement with Answers Pdf free download. Bank Reconciliation Statement - Accountancy Notes, Questions and Answers, Free Study Material, Chapter wise Online Tests. Solution: Question 2. A customer has deposited cash directly into the bank amounting to Rs. I was hoping to study something thats relevant but also as a back up….Thanks . suggested list of projects: Questions & Answers (Q&A) Q&A by Topic. Hi, I’ve been interested in accountancy for a while and I want to know the best ways to get into it at uni or working for a firm. 1. Bank Reconciliation Statement This page contains solutions to theoretical questions (Test your understanding questions, Short answers and Long answers) for the chapter 5 Bank Reconciliation Statement. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant … What fields should I master. She has the following information: (i) The bank debited Sarah’s account with charges of $129 during May. You can find the questions/answers/solutions for the chapter 5 of CBSE class 11 accountancy in this page. So, today we’re going to learn about the “25 Short Questions and Answers-Bank Reconciliation Statement” If you read it from top to bottom, I’m sure you’re going to get a basic idea of the bank reconciliation statement. (2) Lodgements not credited $1,200. (4) Outstanding cheques $677. My son is looking to go to university in 2011. How is the price to book ratio calculated? Detailed examination of the two records revealed the following:(a) The debit side of the cash book had been undercast by £300. Search for: Recent Posts. Which information does each financial statement … Bank Reconciliation Statements (With answers . What are some reasons that cause the balance on the bank statement to differ from the cash balance on the books? You can also visit our article explaining how to do bank reconciliations and practice bank reconciliation exercises with answers here. Bank Reconciliation Questions and Answers. ABC Corp holds an account with Citizen’s Bank. Self Assessment Questions 14.11. please answer at the earliest. You can use WP menu builder to build menus, 10 Questions on Bank Reconciliation Statement CBSE Class-XI, Your result has been entered into leaderboard, bank reconciliation exercise and answers pdf, bank reconciliation multiple choice questions, bank reconciliation practice for students, bank reconciliation problems and solutions, bank reconciliation problems and solutions pdf, preparation of bank reconciliation statement. These statements are key to both financial modeling and accounting to the corresponding amount on its bank statement. Plz tell me d names of subjects in class 11th(CBSE)………….. i want a guide that can substitute for tutions and also provides vital information needed to fare well in the class XI (cbse) examinations. Bank Reconciliation. Which transactions are recorded on the credit side of a journal entry? I am looking into doing an accountancy qualification, I currently hold an honours degree in Law and I don’t want to do another year at university but I am getting confused between all the different courses. Also, let me know about sample papers for the same. These solutions for Bank Reconciliation Statement are extremely popular among Class 11 Commerce students for Accountancy Bank Reconciliation Statement Solutions come handy for quickly completing your homework and preparing for exams. Example: Cheque issued on 15 th March, 2011 but not presented for payment up to 31 st March, 2011 Rs. Lost your password? Which information does each financial statement provide? Answer: B. Hence you can not start it again. As the bank provides its statement periodically (generally monthly, but sometimes more frequently if requested upon charge), there may be some differences in customer’s books of accounts and those of the bank, which generates the need of reconciliation . Information The Cash Book showed an overdraft of N$10 100. Also what A levels & Degree would be needed to help me along the way. Can you tell me how and where to find class eleven cbse exam papers that are solved? Bank Reconciliation Interview Questions and Answers; Top 21 Bank Reconciliation Interview Questions You Must Prepare 10.Mar.2021. To Creditor’s/Supplier’s A/c, I have studied in state board from 8th to 10th. You will receive a link and will create a new password via email. On 31st March, 2015, Cash Book showed a balance of Rs.15,000 as cash at bank, but the Bank Pass Book of the same date showed that cheques for Rs.1,850, Rs.1,000 and Rs.1,750 respectively had […] Solution: One of the $350 entries must be reversed ('removed' from the Cashbook). The entries in this statement cease to cause difference after a few days. Question3: Explain Bank Reconciliation Statement. Solution: Question 3. if bank statement and pass book both showing credit balance whits the mater? After the quiz on ledger , now its time for Bank reconciliation statement  which  is prepared as a settlement of records between the balance per  financials books and the balance per the bank statement. I know NIU has a great accountancy program, but is there one better in the city? Certificate - Bank Reconciliation . This quiz may be helpful for the students to prepare them for their objective quiz and interviews. You can find the questions/answers/solutions for the chapter 5 of CBSE class 11 accountancy in this page. So is the case if you are looking for CBSE class 11 Commerce related topic . NCERT Solutions For Class 11 Financial Accounting – Bank Reconciliation Statement Short Answer Type Questions. What would be the avenues for him to get into this without incurring loads of debt at university while he goes about it? The BRS MCQs Test is consists of 10 Questions, every question has four options as answer and students need to choose the correct one. Nick Ross. I currently attend Northern Illinois University in DeKalb. As this relates to Accountancy and Finance. i feel it very difficult to study in cbse now.I have got only 57% in Ist term exam.please help. 10,000. Find out which book has a greater balance and which one has a lesser balance Post to the bank account in the relevant book based on what has actually happened. At the end of every month entries in the cash book are compared with the entries in the pass book. EXERCISES ON BANK RECONCILIATION STATEMENTS Question 1: The Cash Book (Bank Query One Why is $350 entered twice? What are the financial statements prepared by an entity? Bank Reconciliation Statement This page contains solutions to numerical questions on Unfavourable Balance of Pass Book from the chapter 5 Bank Reconciliation Statement. 1.Debit balance in cash book is a: unfavourable balance. How is the long-term debt to assets ratio calculated? favourable balance. Download. And that economist should also study geography. What are the items reported on the income statement of an entity? Kerala Plus One Accountancy Chapter Wise Questions and Answers Chapter 4 Bank Reconciliation Statement Before that date, you had issued cheques amounting to Rs.1,500 of which cheques of Rs.900 have been presented for payment. Example 1: From the following particulars prepare a Bank Reconciliation Statement to find out the causes in two balances as on March 31 st, 2017 for Abdullah Khan (Pvt.) (Because obviously there is no point in attempting the test if not). She has a ruler, a pen and a highlighter. Now Rose is ready to reconcile the bank statement and cashbook. However, as always, this balance may not be equal, and then a bank reconciliation statement must be prepared. Thank you. what A levels would i need to go to university and become an accountant? Mark the balance as 'Greater' and 'Lesser'. Do you think it helps to get a great score in the exam? Example 1: From the following particulars prepare a Bank Reconciliation Statement to find out the causes in two balances as on March 31st, 2017 for Abdullah Khan (Pvt.) Now, it is the time to practice this topic well so to avoid any pitfall in the examination hall. 1.Debit balance in cash book is a: unfavourable balance. Answer:-Bank Reconciliation Statement is a statement prepared to reconcile the balances of cash book maintained by the concern and pass book maintained by the bank at periodical intervals. Iam going to class xi (cbse )and have decided to go fitjees classroom program and study from brilliant iit elite package(CORRESPONDENCE). The Bank Statement showed a debit balance of N$10 568. Bank Reconciliation Statement MCQs. (i) Balance as per cash book ₹ … How is the dividend payout ratio calculated? You can also visit our article explaining how to do bank reconciliations and practice bank reconciliation exercises with answers here. Please help me I am feeling depressed. This is the most important skill required for solving problems involving preparation of the bank reconciliation statement. 20,000 and 25,000 but presented on 5 th January 2019. The BRS MCQs Test is consists of 10 Questions, every question has four options as answer and students need to choose the correct one. Here are the steps to complete this key process. What is the marking scheme for class XI cbse maths? Certificate - Financial Ratios . It has a balance as per Cash Book as on 31stMarch 2019 of $1050. And is NIOS equivalent to CBSE ? Like what degree to they look for? The answer is completely correct! I need the Chemistry and Biology papers urgently, and can do with Physics too. A) Credit. What Are The Steps For Preparing A Bank Reconciliation Statement? Or indeed, any other career paths? Or Should I just study accountancy at degree level? How is the times interest earned ratio calculated? Question3: Explain Bank Reconciliation Statement. >> Study Bank Reconciliation Statement theory related questions and answers. Which transactions are recorded on the debit side of a journal entry? 2. Does anyone know where can I find the solutions for cbse class xi computer science textbook questions on internet? How is the accounts payable turnover ratio calculated? Accounting Questions Video: Apply accounting equation to determine total liabilities. Bank statement balance. Completing a bank reconciliation ensures your ending bank statement and your general ledger account are in balance. The transactions shall be recorded in the bank reconciliation statement as under: (i) Deduct: All those transactions that have resulted in decreasing in the balance as per cash book. What does a journal entry look like when cash is paid? Get help with your Bank reconciliation homework. How is the price earnings (P/E) ratio calculated? Markson’s & Co. has a balance as per pass book of $1,000 as on 31st March 2019. Reconciling the two accounts helps identify whether accounting changes are needed. I just wish to introduce and approach them myself as professionally as I! I’m planning on visiting small local accountancy firms to enquire about any vacancies they have or if I may be able to do some work experience for them as I’m attempting to get into the field. (3) Cheque paid in by the company and dishonoured $234. Certificate - Working Capital . What is the main difference between AAT, ACCA and CIMA? Select the correct answer: A bank reconciliation statement is prepared by: Creditors; Bank Account holder in a bank; Debtors; A bank reconciliation statement is prepared with the balance : Passbook; Cash book; Both passbook and cash book None of these; Passbook is a copy of : Copy of customer Account Bank column of cash book; Cash column of cash book Prepare bank reconciliation statement on November 30 showing adjusted balances and the journal entries on November 30. Glossary 14.10. From here each account is checked with records to assure a purchase date, income or expenditure, notes or additional needs, and more. … QUESTION 1 (BANK RECONCILIATION) The following information is available after the Cash Book of Windhoek Stores was compared with their Bank Statement at 28 February 2010. Why is it prepared? Balance the accounts in both the books. 6,000 (ii) Interest on overdraft for six months ending March 31 st, 2017 Rs. Q1. School University of Botswana-Gaborone; Course Title ACCOUNTING 100; Type. What qualities should I have to be successful in economics This is the most important skill required for solving problems involving preparation of the bank reconciliation statement. Students can take the bank reconciliation statement multiple-choice questions (MCQs) quiz that we have prepared to test their knowledge about BRS concepts. See below some examples of bank reconciliation questions and answers. We have covered Bank Reconciliation Statement in great detail. Question4: Explain step for preparing a bank reconciliation statement? B) Debit Balance. Need and importance of Bank Reconciliation Statement 14.7.4 Procedure for preparation of Bank Reconciliation Statement. Example: Cheque issued on 15 th March, 2011 but not presented for payment up to 31 st March, 2011 Rs. Country* Bank Reconciliation Exercises and Answers - Cashbook and Bank Statement Side by Side. What journal entries are prepared in a bank reconciliation? and accountancy? I’m thinking of becoming an accountant, I’m currently studying Maths, Biology, Chemistry and Physics at AS level and will be applying for university soon.