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an important part of month end reporting is reconciling the balance sheet ( please see below ) briefly explain why this is important? For each
an important part of month end reporting is reconciling the balance sheet ( please see below ) briefly explain why this is important?
For each of the numbered balance sheet accounts biefly explain how you would recocile each balance
1?
2?
3_?
4?
5?
6?
7?
8?
Statement of financial position 31/03/2021
last year | current assets investments | this year 31/03/21 | question |
93172 | Bank account xxx | 1 | 1 |
$497269 | Debtors general sundry | 65622 | 2 |
$385,562 | Provisonal tax | 787762 | 3 |
$11334 | Whit holding tax | 33730 | 4 |
$ 365697 | Debtors sales comisions | 545448 | 5 |
Less current liabilities | |||
$266721 | General creditors | $243419 | 6 |
$ 334,738 | Creditors - Agents | $317745 | 7 |
$ 92372 | GST control | $ 101216 | 8 |
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