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Dear Student,
I am providing you with the answers for some of the questions, Kindly post one question in each thread separately.
Q.1 Accounting is the process of identifying the events of financial nature, recording them in the journal, classifying them in the respective ledgers, summarising them in the form of Profit and Loss A/c and Balance Sheet and communicating the results to the various of accounting information.
Q.2 Those entries which represent deposits/withdrawals of cash from bank or vice-versa are known as contra entries.
Q.3 A statement prepared for determining the causes of differences and reconciling bank balance (as per Cash Book) with the balance as per Pass Book or vice versa.
I am providing you with the answers for some of the questions, Kindly post one question in each thread separately.
Q.1 Accounting is the process of identifying the events of financial nature, recording them in the journal, classifying them in the respective ledgers, summarising them in the form of Profit and Loss A/c and Balance Sheet and communicating the results to the various of accounting information.
Q.2 Those entries which represent deposits/withdrawals of cash from bank or vice-versa are known as contra entries.
Q.3 A statement prepared for determining the causes of differences and reconciling bank balance (as per Cash Book) with the balance as per Pass Book or vice versa.