Like bank reconciliation statement and reconciliation statement for cost and financial records, reconciliation statement can be made for reconciling the balances on accounts between debtors and creditors.
A Debtor Reconciliation Statement is a statement made for reconciling the balance on an debtor's account as on a particular date.
Example: Akash trader's books of account shows a debit balance of Rs. 4,000 of Sunil Trader as on 28th April 2017, while Sunil Trader shows a credit balance of Rs. 2,850 of Akash Trader. On scrutiny the following found by Akash traders. Prepare a Debtors Reconciliation Statement for Sunil Trader in the books of Akash Traders.
a)
Goods of Rs. 100 returned by Sunil Trader remained to
be recorded by Akash Traders.
b)
Cancellation of discount of Rs. 50 ,due to delay of
payment, not recorded by Sunil Trader.
c)
Sales of Rs. 10,000 recorded by accountant of Sunil
Trader as Rs. 11,000.
d)
Cash remitted Rs. 2,000 by Sunil Trader on 25th
April,2017 but remained to be received till Rs. 28th April 2017 by
Akash Trader.
Books of Akash
Trader’s
|
||
Debtors
Reconciliation Statement of Sunil Trader
|
||
Particulars
|
Rs.
|
Rs.
|
Debit balance
of Sunil Trader in the books
of Akash
Trader
|
4,000
|
|
Add: Sales
recorded more
|
+1,000
|
|
5,000
|
||
Less:
Unrecorded sales return
|
100
|
|
Cancelation of
discount
|
50
|
|
Cash-in
transit
|
+2,000
|
2,150
|
Credit balance
of Akash Trader’s in the books
of Sunil
Trader
|
2,850
|
|
Comments
Post a Comment